Fulton Bank N.A. Sells 597 Shares of Atlassian Co. Plc (NASDAQ:TEAM)

Fulton Bank N.A. trimmed its position in shares of Atlassian Co. Plc (NASDAQ:TEAMGet Rating) by 33.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,198 shares of the technology company’s stock after selling 597 shares during the quarter. Fulton Bank N.A.’s holdings in Atlassian were worth $225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of TEAM. Bank of New Hampshire bought a new position in shares of Atlassian during the first quarter valued at about $26,000. Core Alternative Capital raised its stake in shares of Atlassian by 1,383.3% during the first quarter. Core Alternative Capital now owns 89 shares of the technology company’s stock valued at $26,000 after acquiring an additional 83 shares during the last quarter. Addison Advisors LLC raised its stake in shares of Atlassian by 2,475.0% during the first quarter. Addison Advisors LLC now owns 103 shares of the technology company’s stock valued at $30,000 after acquiring an additional 99 shares during the last quarter. IndexIQ Advisors LLC bought a new position in shares of Atlassian during the first quarter valued at about $30,000. Finally, Riverview Trust Co bought a new position in shares of Atlassian during the first quarter valued at about $32,000. 87.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

TEAM has been the subject of a number of research reports. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and increased their price target for the stock from $279.00 to $300.00 in a research note on Monday, June 27th. Robert W. Baird decreased their price target on shares of Atlassian from $520.00 to $380.00 and set an “outperform” rating for the company in a research note on Friday, August 5th. Wolfe Research increased their price target on shares of Atlassian from $240.00 to $290.00 and gave the stock an “outperform” rating in a research note on Monday, August 8th. KeyCorp decreased their price target on shares of Atlassian from $338.00 to $278.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. Finally, Cowen decreased their price target on shares of Atlassian from $285.00 to $245.00 in a research note on Friday, July 22nd. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $327.42.

Atlassian Stock Performance

NASDAQ:TEAM opened at $242.90 on Monday. The company’s 50 day moving average price is $238.44 and its 200-day moving average price is $231.28. Atlassian Co. Plc has a 52 week low of $159.54 and a 52 week high of $483.13. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.98.

Atlassian (NASDAQ:TEAMGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The technology company reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.13). Atlassian had a negative net margin of 21.91% and a negative return on equity of 98.61%. The firm had revenue of $759.80 million for the quarter, compared to analysts’ expectations of $724.28 million. During the same quarter in the previous year, the company earned ($0.06) EPS. The company’s quarterly revenue was up 35.8% compared to the same quarter last year. As a group, sell-side analysts predict that Atlassian Co. Plc will post -0.92 earnings per share for the current year.

Atlassian Profile

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Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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