Concorde Asset Management LLC bought a new stake in Atlassian Co. PLC (NASDAQ:TEAM) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 11,829 shares of the technology company’s stock, valued at approximately $2,150,000. Atlassian accounts for about 1.2% of Concorde Asset Management LLC’s holdings, making the stock its 16th biggest holding.
A number of other hedge funds have also recently added to or reduced their stakes in TEAM. Jennison Associates LLC boosted its stake in shares of Atlassian by 122.5% in the 2nd quarter. Jennison Associates LLC now owns 5,679,523 shares of the technology company’s stock valued at $1,023,848,000 after purchasing an additional 3,127,251 shares in the last quarter. State Street Corp boosted its position in Atlassian by 2.9% during the 1st quarter. State Street Corp now owns 1,320,544 shares of the technology company’s stock worth $181,258,000 after buying an additional 37,656 shares during the period. Winslow Capital Management LLC boosted its position in Atlassian by 79.0% during the 2nd quarter. Winslow Capital Management LLC now owns 1,094,126 shares of the technology company’s stock worth $197,238,000 after buying an additional 482,785 shares during the period. William Blair Investment Management LLC acquired a new stake in Atlassian during the 2nd quarter worth approximately $174,857,000. Finally, Nuveen Asset Management LLC boosted its position in Atlassian by 64.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 789,630 shares of the technology company’s stock worth $142,346,000 after buying an additional 309,127 shares during the period. 90.42% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on TEAM shares. BidaskClub upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday, October 21st. Wells Fargo & Company lifted their target price on shares of Atlassian from $205.00 to $220.00 in a research report on Tuesday, October 13th. Jefferies Financial Group raised their price target on shares of Atlassian from $145.00 to $175.00 and gave the stock a “hold” rating in a report on Monday, July 20th. They noted that the move was a valuation call. KeyCorp raised their price target on shares of Atlassian from $196.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, October 20th. Finally, Piper Sandler initiated coverage on shares of Atlassian in a report on Tuesday, September 15th. They set an “overweight” rating and a $212.00 price target for the company. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $195.63.
Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, July 30th. The technology company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.32. Atlassian had a positive return on equity of 2.15% and a negative net margin of 21.72%. The firm had revenue of $430.48 million for the quarter, compared to analysts’ expectations of $408.86 million. On average, research analysts expect that Atlassian Co. PLC will post 0.12 earnings per share for the current fiscal year.
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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