Verition Fund Management LLC Sells 1,047 Shares of Atlassian Co. Plc (NASDAQ:TEAM)

Verition Fund Management LLC decreased its holdings in shares of Atlassian Co. Plc (NASDAQ:TEAMGet Rating) by 30.8% in the first quarter, Holdings Channel.com reports. The firm owned 2,353 shares of the technology company’s stock after selling 1,047 shares during the period. Verition Fund Management LLC’s holdings in Atlassian were worth $691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Diversified Trust Co increased its position in shares of Atlassian by 0.3% during the first quarter. Diversified Trust Co now owns 11,648 shares of the technology company’s stock valued at $3,423,000 after acquiring an additional 38 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Atlassian by 21.5% during the first quarter. Fifth Third Bancorp now owns 288 shares of the technology company’s stock valued at $85,000 after acquiring an additional 51 shares in the last quarter. Green Alpha Advisors LLC increased its position in shares of Atlassian by 1.3% during the first quarter. Green Alpha Advisors LLC now owns 3,986 shares of the technology company’s stock valued at $1,171,000 after acquiring an additional 53 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Atlassian by 2.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,002 shares of the technology company’s stock valued at $763,000 after acquiring an additional 54 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Atlassian by 37.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 206 shares of the technology company’s stock valued at $61,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 87.29% of the company’s stock.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $220.69 on Friday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.19 and a current ratio of 1.19. The company has a market cap of $31.98 billion, a P/E ratio of -90.82 and a beta of 0.94. The firm’s fifty day moving average is $241.37 and its two-hundred day moving average is $230.97. Atlassian Co. Plc has a 52-week low of $159.54 and a 52-week high of $483.13.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wolfe Research lifted their target price on shares of Atlassian from $240.00 to $290.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Truist Financial lifted their target price on shares of Atlassian from $220.00 to $250.00 and gave the stock a “hold” rating in a research report on Friday, August 5th. Piper Sandler lifted their target price on shares of Atlassian from $249.00 to $283.00 and gave the stock an “overweight” rating in a research report on Friday, August 5th. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $279.00 to $300.00 in a research note on Monday, June 27th. Finally, Robert W. Baird dropped their price target on shares of Atlassian from $520.00 to $380.00 and set an “outperform” rating on the stock in a research note on Friday, August 5th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $327.42.

Atlassian Company 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.

See Also

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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