Millennium Management LLC decreased its stake in Atlassian Co. PLC (NASDAQ:TEAM) by 24.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,025 shares of the technology company’s stock after selling 33,582 shares during the period. Millennium Management LLC’s holdings in Atlassian were worth $12,672,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. Creative Financial Designs Inc. ADV bought a new position in shares of Atlassian in the 2nd quarter valued at $26,000. Captrust Financial Advisors raised its stake in shares of Atlassian by 233.3% during the second quarter. Captrust Financial Advisors now owns 300 shares of the technology company’s stock valued at $39,000 after acquiring an additional 210 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Atlassian during the second quarter worth $41,000. CWM LLC acquired a new stake in Atlassian in the second quarter valued at $43,000. Finally, Baldwin Brothers Inc. MA acquired a new stake in Atlassian in the third quarter valued at $50,000. Hedge funds and other institutional investors own 87.09% of the company’s stock.
Several brokerages have commented on TEAM. Needham & Company LLC reaffirmed a “hold” rating on shares of Atlassian in a report on Sunday, October 20th. ValuEngine cut Atlassian from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BMO Capital Markets set a $150.00 price target on Atlassian and gave the stock a “hold” rating in a report on Friday, October 18th. William Blair reiterated a “buy” rating on shares of Atlassian in a research note on Friday, September 13th. Finally, Mizuho set a $152.00 target price on shares of Atlassian and gave the company a “buy” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $141.44.
Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 17th. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.04. The business had revenue of $363.40 million during the quarter, compared to the consensus estimate of $351.79 million. Atlassian had a negative net margin of 24.95% and a negative return on equity of 2.76%. Atlassian’s revenue was up 36.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.20 EPS. As a group, research analysts anticipate that Atlassian Co. PLC will post 0.05 EPS for the current year.
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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