Nicholas Investment Partners LP Acquires 2,900 Shares of Atlassian Co. Plc (NASDAQ:TEAM)

Nicholas Investment Partners LP boosted its holdings in Atlassian Co. Plc (NASDAQ:TEAM) by 18.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,206 shares of the technology company’s stock after acquiring an additional 2,900 shares during the quarter. Nicholas Investment Partners LP’s holdings in Atlassian were worth $4,676,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Stratos Wealth Partners LTD. increased its stake in Atlassian by 3.2% in the second quarter. Stratos Wealth Partners LTD. now owns 1,258 shares of the technology company’s stock valued at $323,000 after acquiring an additional 39 shares during the period. Applied Research Investments LLC grew its stake in Atlassian by 0.3% during the second quarter. Applied Research Investments LLC now owns 12,007 shares of the technology company’s stock worth $3,084,000 after buying an additional 41 shares during the last quarter. Lloyd Advisory Services LLC. grew its stake in Atlassian by 45.7% during the second quarter. Lloyd Advisory Services LLC. now owns 134 shares of the technology company’s stock worth $34,000 after buying an additional 42 shares during the last quarter. Wealth Architects LLC grew its stake in Atlassian by 4.2% during the second quarter. Wealth Architects LLC now owns 1,084 shares of the technology company’s stock worth $279,000 after buying an additional 44 shares during the last quarter. Finally, Kistler Tiffany Companies LLC grew its stake in Atlassian by 29.3% during the second quarter. Kistler Tiffany Companies LLC now owns 212 shares of the technology company’s stock worth $54,000 after buying an additional 48 shares during the last quarter. 85.92% of the stock is currently owned by institutional investors and hedge funds.

TEAM traded up $3.86 during mid-day trading on Friday, hitting $407.77. The stock had a trading volume of 12,052 shares, compared to its average volume of 1,298,120. The stock’s fifty day simple moving average is $328.78 and its 200-day simple moving average is $266.65. The firm has a market capitalization of $55.99 billion, a price-to-earnings ratio of -145.72, a price-to-earnings-growth ratio of 66.50 and a beta of 0.84. Atlassian Co. Plc has a 1-year low of $164.16 and a 1-year high of $404.54.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Wednesday, July 28th. The technology company reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.06. The company had revenue of $559.54 million for the quarter, compared to analyst estimates of $521.61 million. Atlassian had a negative net margin of 33.33% and a positive return on equity of 10.09%. As a group, analysts forecast that Atlassian Co. Plc will post 0.29 earnings per share for the current year.

Several analysts have weighed in on TEAM shares. Truist upped their price objective on shares of Atlassian from $200.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, July 30th. Truist Securities upped their price objective on shares of Atlassian from $200.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, July 30th. Wells Fargo & Company increased their price target on shares of Atlassian from $275.00 to $325.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. Robert W. Baird increased their price target on shares of Atlassian from $345.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, September 8th. Finally, Cowen cut shares of Atlassian from an “outperform” rating to a “market perform” rating and set a $260.00 price target on the stock. in a research note on Thursday, July 22nd. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $299.67.

Atlassian Profile

Atlassian Corp. Plc is a holding company, which engages in the design, development, license, and maintenance of software and provision software hosting services. Its products include Jira software, align, core, and Service Desk, Confluence, Trello, Bitbucket, Sourcetree, bamboo, opsgenie, and statuspage.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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