Chicago Capital LLC Buys New Holdings in Atlassian Co. PLC (TEAM)
Chicago Capital LLC bought a new stake in Atlassian Co. PLC (NASDAQ:TEAM) during the first quarter, Holdings Channel reports. The institutional investor bought 2,000 shares of the technology company’s stock, valued at approximately $225,000.
Other large investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC acquired a new position in shares of Atlassian in the fourth quarter valued at approximately $25,000. Cornerstone Advisors Inc. acquired a new position in shares of Atlassian in the fourth quarter valued at approximately $29,000. Winslow Evans & Crocker Inc. purchased a new stake in shares of Atlassian in the first quarter valued at approximately $34,000. Meeder Asset Management Inc. purchased a new stake in shares of Atlassian in the fourth quarter valued at approximately $50,000. Finally, Financial Architects Inc boosted its stake in shares of Atlassian by 159.1% in the fourth quarter. Financial Architects Inc now owns 570 shares of the technology company’s stock valued at $51,000 after buying an additional 350 shares in the last quarter. 91.21% of the stock is currently owned by institutional investors and hedge funds.
TEAM opened at $106.72 on Wednesday. The company has a current ratio of 3.34, a quick ratio of 3.44 and a debt-to-equity ratio of 1.22. The firm has a market cap of $11.33 billion, a price-to-earnings ratio of -1,524.57, a PEG ratio of 97.43 and a beta of 1.85. Atlassian Co. PLC has a one year low of $54.57 and a one year high of $117.06.
A number of research firms recently weighed in on TEAM. Jefferies Financial Group lifted their price target on Atlassian to $90.00 and gave the company a “hold” rating in a research note on Friday, January 18th. Oppenheimer lifted their price target on Atlassian from $95.00 to $110.00 in a research note on Friday, January 18th. Robert W. Baird lifted their price target on Atlassian from $88.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, January 18th. DA Davidson lifted their price target on Atlassian to $126.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, Morgan Stanley downgraded Atlassian from an “equal” rating to a “weight” rating in a research note on Tuesday, January 15th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $114.71.
Atlassian Company Profile
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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