Atlassian Co. PLC (NASDAQ:TEAM) Shares Sold by Navellier & Associates Inc

Navellier & Associates Inc lowered its position in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 3.2% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 24,716 shares of the technology company’s stock after selling 828 shares during the quarter. Navellier & Associates Inc’s holdings in Atlassian were worth $3,393,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of Atlassian by 3.3% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 119,445 shares of the technology company’s stock valued at $13,425,000 after buying an additional 3,812 shares during the period. Creative Planning lifted its holdings in shares of Atlassian by 77.4% in the 4th quarter. Creative Planning now owns 5,542 shares of the technology company’s stock valued at $667,000 after buying an additional 2,418 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Atlassian by 100.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 40,436 shares of the technology company’s stock valued at $4,875,000 after buying an additional 20,258 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in shares of Atlassian in the 4th quarter valued at about $361,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Atlassian in the 4th quarter valued at about $192,000. 93.34% of the stock is owned by institutional investors.

NASDAQ:TEAM traded down $0.21 during trading hours on Wednesday, hitting $183.46. 3,519,903 shares of the stock were exchanged, compared to its average volume of 1,958,678. Atlassian Co. PLC has a 52-week low of $107.00 and a 52-week high of $191.72. The firm’s fifty day moving average price is $166.69 and its 200 day moving average price is $141.98. The company has a market cap of $22.21 billion, a P/E ratio of -210.43, a P/E/G ratio of 65.70 and a beta of 1.03.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.04. Atlassian had a positive return on equity of 0.84% and a negative net margin of 13.37%. The company had revenue of $411.60 million during the quarter, compared to analyst estimates of $396.22 million. During the same period in the previous year, the business earned $0.21 EPS. Atlassian’s quarterly revenue was up 33.1% on a year-over-year basis. As a group, sell-side analysts expect that Atlassian Co. PLC will post 0.13 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on TEAM shares. Mizuho boosted their price objective on Atlassian from $175.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. BidaskClub raised Atlassian from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Oppenheimer boosted their price objective on Atlassian from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. FBN Securities began coverage on Atlassian in a research note on Friday, May 15th. They issued an “outperform” rating and a $220.00 price target for the company. Finally, Morgan Stanley lifted their price target on Atlassian from $165.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $163.39.

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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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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