Walleye Capital LLC Buys 4,951 Shares of Atlassian Co. Plc (NASDAQ:TEAM)

Walleye Capital LLC increased its stake in shares of Atlassian Co. Plc (NASDAQ:TEAMGet Rating) by 211.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 7,288 shares of the technology company’s stock after buying an additional 4,951 shares during the period. Walleye Capital LLC’s holdings in Atlassian were worth $2,141,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of TEAM. Bank of New Hampshire bought a new stake in shares of Atlassian during the 1st quarter worth about $26,000. Core Alternative Capital boosted its holdings in shares of Atlassian by 1,383.3% during the 1st quarter. Core Alternative Capital now owns 89 shares of the technology company’s stock worth $26,000 after buying an additional 83 shares during the period. Addison Advisors LLC boosted its holdings in shares of Atlassian by 2,475.0% during the 1st quarter. Addison Advisors LLC now owns 103 shares of the technology company’s stock worth $30,000 after buying an additional 99 shares during the period. IndexIQ Advisors LLC bought a new stake in shares of Atlassian during the 1st quarter worth about $30,000. Finally, Riverview Trust Co bought a new stake in shares of Atlassian during the 1st quarter worth about $32,000. Institutional investors own 87.29% of the company’s stock.

Atlassian Price Performance

TEAM stock opened at $242.90 on Friday. The company has a 50 day simple moving average of $238.44 and a 200 day simple moving average of $232.20. The stock has a market cap of $35.19 billion, a price-to-earnings ratio of -99.96 and a beta of 0.94. Atlassian Co. Plc has a 1 year low of $159.54 and a 1 year high of $483.13. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.19 and a quick ratio of 1.19.

Atlassian (NASDAQ:TEAMGet Rating) last posted its earnings results on Thursday, August 4th. The technology company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.13). Atlassian had a negative return on equity of 98.61% and a negative net margin of 21.91%. The business had revenue of $759.80 million for the quarter, compared to the consensus estimate of $724.28 million. During the same period in the previous year, the firm earned ($0.06) earnings per share. The company’s revenue was up 35.8% compared to the same quarter last year. Research analysts anticipate that Atlassian Co. Plc will post -0.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TEAM. Cowen cut their price objective on shares of Atlassian from $285.00 to $245.00 in a report on Friday, July 22nd. Morgan Stanley cut their price objective on shares of Atlassian from $460.00 to $430.00 and set an “overweight” rating for the company in a report on Monday, July 11th. Cowen cut their price objective on shares of Atlassian from $285.00 to $245.00 in a report on Friday, July 22nd. Wolfe Research boosted their price objective on shares of Atlassian from $240.00 to $290.00 and gave the company an “outperform” rating in a report on Monday, August 8th. Finally, Jefferies Financial Group dropped their target price on shares of Atlassian from $275.00 to $180.00 in a research report on Monday, May 23rd. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $327.42.

About Atlassian

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Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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