Glynn Capital Management LLC increased its stake in Atlassian Co. PLC (NASDAQ:TEAM) by 4.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 383,065 shares of the technology company’s stock after purchasing an additional 16,186 shares during the quarter. Atlassian accounts for 8.8% of Glynn Capital Management LLC’s investment portfolio, making the stock its largest position. Glynn Capital Management LLC owned approximately 0.31% of Atlassian worth $48,052,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. L & S Advisors Inc purchased a new position in Atlassian during the 2nd quarter valued at about $759,000. Morgens Waterfall Vintiadis & Co. Inc. boosted its stake in shares of Atlassian by 7.8% during the 2nd quarter. Morgens Waterfall Vintiadis & Co. Inc. now owns 41,500 shares of the technology company’s stock worth $5,430,000 after purchasing an additional 3,000 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Atlassian by 15.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,437 shares of the technology company’s stock worth $1,496,000 after purchasing an additional 1,507 shares during the last quarter. Castle Rock Wealth Management LLC boosted its stake in shares of Atlassian by 6.4% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 3,488 shares of the technology company’s stock worth $459,000 after purchasing an additional 211 shares during the last quarter. Finally, Aperio Group LLC boosted its stake in shares of Atlassian by 8.3% during the 2nd quarter. Aperio Group LLC now owns 43,656 shares of the technology company’s stock worth $5,712,000 after purchasing an additional 3,357 shares during the last quarter. Institutional investors and hedge funds own 84.43% of the company’s stock.

Shares of TEAM traded up $4.25 during mid-day trading on Friday, hitting $118.95. The company had a trading volume of 1,420,100 shares, compared to its average volume of 1,673,859. The business’s 50-day simple moving average is $123.57 and its 200-day simple moving average is $128.91. Atlassian Co. PLC has a 1-year low of $65.17 and a 1-year high of $149.80. The stock has a market cap of $13.92 billion, a PE ratio of -699.71, a P/E/G ratio of 113.54 and a beta of 1.29.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.04. Atlassian had a negative net margin of 24.95% and a negative return on equity of 2.76%. The firm had revenue of $363.40 million for the quarter, compared to analyst estimates of $351.79 million. During the same quarter last year, the firm posted $0.20 earnings per share. Atlassian’s revenue for the quarter was up 36.0% compared to the same quarter last year. Research analysts forecast that Atlassian Co. PLC will post 0.05 earnings per share for the current year.

TEAM has been the topic of several analyst reports. BidaskClub cut shares of Atlassian from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. William Blair reaffirmed a “buy” rating on shares of Atlassian in a research note on Friday, September 13th. Jefferies Financial Group raised their price target on shares of Atlassian from $105.00 to $125.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Atlassian from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Bank of America raised shares of Atlassian from a “neutral” rating to a “buy” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $141.44.

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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