Zevenbergen Capital Investments LLC acquired a new stake in Atlassian Co. PLC (NASDAQ:TEAM) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 72,380 shares of the technology company’s stock, valued at approximately $8,135,000.

A number of other large investors have also recently modified their holdings of the stock. Parallel Advisors LLC bought a new stake in shares of Atlassian during the 4th quarter worth about $25,000. Winslow Evans & Crocker Inc. acquired a new stake in shares of Atlassian in the first quarter worth $34,000. Kwmg LLC acquired a new stake in shares of Atlassian in the first quarter worth $50,000. Duncker Streett & Co. Inc. acquired a new stake in shares of Atlassian in the first quarter worth $51,000. Finally, WealthTrust Arizona LLC lifted its stake in shares of Atlassian by 23.4% in the fourth quarter. WealthTrust Arizona LLC now owns 580 shares of the technology company’s stock worth $52,000 after buying an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 92.43% of the company’s stock.

Several equities analysts recently commented on TEAM shares. Zacks Investment Research cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Deutsche Bank started coverage on shares of Atlassian in a research note on Wednesday, February 27th. They set a “hold” rating and a $114.00 target price for the company. KeyCorp upped their target price on shares of Atlassian from $110.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Mizuho upped their target price on shares of Atlassian from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, BMO Capital Markets upped their target price on shares of Atlassian from $100.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $121.67.

Atlassian stock traded up $1.62 on Thursday, hitting $130.59. The company’s stock had a trading volume of 395,088 shares, compared to its average volume of 1,344,422. The firm has a market capitalization of $13.69 billion, a PE ratio of -1,865.57, a price-to-earnings-growth ratio of 204.11 and a beta of 1.40. The company has a debt-to-equity ratio of 1.22, a current ratio of 3.34 and a quick ratio of 3.34. Atlassian Co. PLC has a one year low of $60.39 and a one year high of $137.78.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Wednesday, April 17th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.26). The business had revenue of $309.30 million during the quarter, compared to the consensus estimate of $304.68 million. Atlassian had a negative net margin of 38.06% and a positive return on equity of 1.34%. The company’s quarterly revenue was up 37.9% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. Analysts predict that Atlassian Co. PLC will post 0.03 earnings per share for the current fiscal year.

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About Atlassian

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. It provides project tracking, content creation and sharing, and service management products. The company's products include JIRA, a workflow management system that enables teams to plan, organize, track, and manage their work and projects; Confluence, a content collaboration platform that is used to create, share, organize, and discuss projects; and Trello, a Web-based project management application for capturing and adding structure to fluid, fast-forming work for teams.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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