Symmetry Peak Management LLC Invests $599,000 in Atlassian Corporation PLC (TEAM)

Symmetry Peak Management LLC purchased a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) during the first quarter, Holdings Channel reports. The institutional investor purchased 20,000 shares of the technology company’s stock, valued at approximately $599,000.

A number of other institutional investors have also recently made changes to their positions in TEAM. Ellington Management Group LLC purchased a new position in shares of Atlassian Corporation PLC during the fourth quarter valued at about $275,000. Two Sigma Investments LP increased its position in shares of Atlassian Corporation PLC by 240.0% in the fourth quarter. Two Sigma Investments LP now owns 877,556 shares of the technology company’s stock valued at $21,132,000 after buying an additional 619,426 shares in the last quarter. Janus Capital Management LLC increased its position in shares of Atlassian Corporation PLC by 123.3% in the fourth quarter. Janus Capital Management LLC now owns 6,919,163 shares of the technology company’s stock valued at $166,613,000 after buying an additional 3,820,076 shares in the last quarter. First Republic Investment Management Inc. increased its position in shares of Atlassian Corporation PLC by 6.1% in the fourth quarter. First Republic Investment Management Inc. now owns 204,164 shares of the technology company’s stock valued at $4,916,000 after buying an additional 11,749 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Atlassian Corporation PLC by 82.1% in the fourth quarter. Franklin Resources Inc. now owns 1,338,402 shares of the technology company’s stock valued at $32,229,000 after buying an additional 603,582 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Atlassian Corporation PLC (NASDAQ:TEAM)

Atlassian Corporation PLC (NASDAQ:TEAM) traded up 0.43% during midday trading on Friday, reaching $34.79. 483,391 shares of the company’s stock traded hands. Atlassian Corporation PLC has a 52-week low of $23.53 and a 52-week high of $37.90. The company’s market cap is $7.84 billion. The stock has a 50-day moving average of $35.87 and a 200 day moving average of $30.04.

Atlassian Corporation PLC (NASDAQ:TEAM) last posted its earnings results on Thursday, April 27th. The technology company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.05. The firm had revenue of $159.90 million during the quarter, compared to analysts’ expectations of $156.64 million. Atlassian Corporation PLC had a negative net margin of 4.62% and a negative return on equity of 1.74%. The business’s revenue for the quarter was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 earnings per share. On average, analysts anticipate that Atlassian Corporation PLC will post $0.33 earnings per share for the current fiscal year.

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Several brokerages recently issued reports on TEAM. Jefferies Group LLC reissued a “buy” rating and set a $41.00 price target on shares of Atlassian Corporation PLC in a report on Friday, June 2nd. ValuEngine raised shares of Atlassian Corporation PLC from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Canaccord Genuity reissued a “buy” rating and set a $40.00 price target on shares of Atlassian Corporation PLC in a report on Friday, April 28th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $40.00 price target (up from $35.00) on shares of Atlassian Corporation PLC in a report on Monday, May 1st. Finally, BMO Capital Markets reissued a “market perform” rating and set a $33.00 price target (up from $29.00) on shares of Atlassian Corporation PLC in a report on Friday, April 28th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Atlassian Corporation PLC presently has an average rating of “Buy” and an average price target of $34.60.

Atlassian Corporation PLC Company Profile

Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.

Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Corporation PLC (NASDAQ:TEAM).

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