Bank of America Corp DE Has $279.79 Million Stock Holdings in Atlassian Co. Plc (NASDAQ:TEAM)

Bank of America Corp DE decreased its stake in shares of Atlassian Co. Plc (NASDAQ:TEAMGet Rating) by 3.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 952,224 shares of the technology company’s stock after selling 35,537 shares during the quarter. Bank of America Corp DE owned about 0.69% of Atlassian worth $279,792,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Sands Capital Management LLC increased its position in shares of Atlassian by 13.5% during the 1st quarter. Sands Capital Management LLC now owns 6,106,826 shares of the technology company’s stock worth $1,794,369,000 after purchasing an additional 725,599 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of Atlassian by 25.4% during the 1st quarter. TD Asset Management Inc. now owns 1,708,989 shares of the technology company’s stock worth $502,152,000 after acquiring an additional 346,386 shares during the period. State Street Corp boosted its stake in shares of Atlassian by 6.6% during the 4th quarter. State Street Corp now owns 1,651,521 shares of the technology company’s stock worth $630,003,000 after acquiring an additional 102,685 shares during the period. Durable Capital Partners LP bought a new position in shares of Atlassian during the 1st quarter worth approximately $434,144,000. Finally, Winslow Capital Management LLC boosted its stake in shares of Atlassian by 47.3% during the 1st quarter. Winslow Capital Management LLC now owns 1,101,473 shares of the technology company’s stock worth $323,646,000 after acquiring an additional 353,625 shares during the period. Institutional investors and hedge funds own 87.29% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $241.62 on Tuesday. The stock has a fifty day moving average price of $239.05 and a 200-day moving average price of $231.09. The company has a market cap of $35.01 billion, a price-to-earnings ratio of -99.43 and a beta of 0.94. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.19 and a current ratio of 1.19. Atlassian Co. Plc has a fifty-two week low of $159.54 and a fifty-two week high of $483.13.

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 return on equity of 98.61% and a negative net margin of 21.91%. The business had revenue of $759.80 million for the quarter, compared to analyst estimates of $724.28 million. During the same period last year, the firm posted ($0.06) EPS. Atlassian’s quarterly revenue was up 35.8% on a year-over-year basis. As a group, equities analysts anticipate that Atlassian Co. Plc will post -0.92 EPS for the current fiscal year.

Analyst Ratings Changes

TEAM has been the subject of several research analyst reports. KeyCorp reduced their target price on Atlassian from $338.00 to $278.00 and set an “overweight” rating for the company in a research note on Friday, July 22nd. Wolfe Research lifted their target price on Atlassian from $240.00 to $290.00 and gave the stock an “outperform” rating in a research note on Monday, August 8th. Cowen reduced their target price on Atlassian from $285.00 to $245.00 in a research note on Friday, July 22nd. Piper Sandler boosted their price target on Atlassian from $249.00 to $283.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Finally, Sanford C. Bernstein set a $263.00 price target on Atlassian in a research note on Friday, August 12th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and an average target price of $327.42.

Atlassian Company Profile

(Get Rating)

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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