Thornburg Investment Management Inc. Decreases Holdings in Atlassian Co. Plc (NASDAQ:TEAM)

Thornburg Investment Management Inc. decreased its position in Atlassian Co. Plc (NASDAQ:TEAM) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 210,054 shares of the technology company’s stock after selling 8,197 shares during the period. Thornburg Investment Management Inc. owned about 0.16% of Atlassian worth $53,954,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TEAM. Clearbridge Investments LLC grew its holdings in shares of Atlassian by 87.7% in the first quarter. Clearbridge Investments LLC now owns 3,339,481 shares of the technology company’s stock worth $703,829,000 after purchasing an additional 1,560,638 shares during the last quarter. Capital International Investors grew its holdings in shares of Atlassian by 191.0% in the first quarter. Capital International Investors now owns 903,935 shares of the technology company’s stock worth $189,831,000 after purchasing an additional 593,304 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Atlassian by 4.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,379,591 shares of the technology company’s stock valued at $2,819,883,000 after acquiring an additional 554,314 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Atlassian by 981.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 502,449 shares of the technology company’s stock valued at $105,896,000 after acquiring an additional 455,972 shares in the last quarter. Finally, Sands Capital Management LLC boosted its holdings in Atlassian by 7.8% in the first quarter. Sands Capital Management LLC now owns 5,504,278 shares of the technology company’s stock valued at $1,160,082,000 after acquiring an additional 397,769 shares in the last quarter. Hedge funds and other institutional investors own 85.92% of the company’s stock.

A number of analysts have recently commented on the stock. Truist boosted their target price on shares of Atlassian from $200.00 to $270.00 and gave the company a “hold” rating in a report on Friday, July 30th. Mizuho boosted their target price on shares of Atlassian from $310.00 to $370.00 and gave the company a “buy” rating in a report on Friday, July 30th. Canaccord Genuity boosted their target price on shares of Atlassian from $275.00 to $325.00 and gave the company a “buy” rating in a report on Friday, July 30th. Morgan Stanley boosted their target price on shares of Atlassian from $292.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, July 30th. Finally, Cowen lowered Atlassian from an “outperform” rating to a “market perform” rating and set a $260.00 price target for the company. in a research report 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 given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $299.67.

Shares of Atlassian stock traded down $2.41 during trading hours on Friday, reaching $401.50. 58,295 shares of the stock traded hands, compared to its average volume of 1,298,120. The company has a 50 day moving average price of $328.78 and a 200 day moving average price of $266.65. The firm has a market capitalization of $55.13 billion, a price-to-earnings ratio of -143.59, a P/E/G ratio of 66.50 and a beta of 0.84. Atlassian Co. Plc has a one year low of $164.16 and a one year high of $404.54.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Wednesday, July 28th. The technology company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.06. The business had revenue of $559.54 million during the quarter, compared to the consensus estimate of $521.61 million. Atlassian had a positive return on equity of 10.09% and a negative net margin of 33.33%. On average, sell-side analysts expect that Atlassian Co. Plc will post 0.29 EPS for the current year.

About Atlassian

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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