Fmr LLC increased its stake in Atlassian Co. PLC (NASDAQ: TEAM) 14.1% during the second quarter, according to the most recent filing with the Securities & Exchange Commission. The fund owned 9,000,442 shares in the technology company's stock after the purchase of 1,112,999 additional shares during the period. Fmr LLC owned 9.04% Atlassian valued at $ 562,708,000 from the most recent filings with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Citigroup Inc. has bought a new share in Atlassian shares worth approximately $ 103,000 in the first quarter. Comerica Bank bought a new stake in Atlassian shares in the first quarter of approximately $ 210,000. Oppenheimer & Co. Inc. bought a new shareholding in Atlassian in the second quarter worth approximately $ 218,000. Parametrica Management Ltd acquired a new stake in Atlassian shares in the first quarter of approximately $ 202,000. Finally, in the first quarter, Delpha Capital Management LLC acquired a new stake in Atlassian shares worth approximately $ 212,000. Institutional investors hold 98.99% of the company's shares.
Several analysts have commented on TEAM shares. Cowen repeated a "buy" rating and set a target price of $ 90.00 on Atlassian shares in a study letter on Friday, July 27th. DA Davidson began reporting on Atlassian in a research note on Wednesday, May 23rd. They set a "buy" classification and a target price of $ 74.00 on the shares. Bank of America started coverage on Atlassian in a study letter on Wednesday, May 30th. They have a "neutral" rating and a target price of $ 70.00 on the shares. BMO Capital Markets raised its target price at Atlassian from $ 64.00 to $ 82.00 and gave the company a "market performance" rating in a study letter on Friday, July 27th. They noted that the move was a valuation call. Finally, Canaccord Genuity repeated a "buy" rating and set a target price $ 85.00 (higher than $ 65.00) on Atlassian shares in a study letter on Friday, July 27th. Six analysts have rated the shares with a hold rating, seven have been awarded a buy-rating and two have been awarded a strong buy-rating to the company. The company currently has a consensus rating of "Buy" and a target price target of $ 70.00.
TEAM shares were open at $ 90.01 on Friday. Atlassian Co. PLC has a 12 month low of $ 33.16 and a 12 month peak of $ 91.42. The company has a market capitalization of $ 8.91 billion, a price-earnings ratio of -1 285.86, a price-earnings ratio of 92.05 and a beta of 2.44.
Atlassian (NASDAQ: TEAM) last published its earnings on Thursday, July 26th. The technology company reported $ 0.13 EPS for the quarter and outpaced the consensus estimate of $ 0.12 with $ 0.01. The company had sales of $ 243.80 million for the quarter compared to the consensus estimate of $ 233.42 million. Atlassian had a negative return on shareholders' equity of 2.30% and a negative net margin of 13.65%. The company's turnover increased by 39.9% compared to the same quarter last year. In the same period last year the company booked $ 0.09 EPS. stock research analysts expect Atlassian Co. PLC will post 0.07 earnings per share for the current year.
Atlassian Corporation Plc offers team collaboration and productivity software solutions worldwide through its subsidiaries. It offers project tracking, content creation and sharing, real-time communication and service management products for large and small organizations. The company's products include JIRA, a workflow management system that allows teams to plan, organize, track and manage their work and projects; Confluence, a platform for content collaboration that is used to create, share, organize and discuss projects; HipChat that gives teams a way to communicate in real time and share ideas, updates, codes and files; Trello, a web-based project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams that use distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT helpdesks and legal and HR teams.
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