Point72 Hong Kong Ltd purchased a new position in shares of Atlassian Co. PLC (NASDAQ:TEAM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 2,675 shares of the technology company’s stock, valued at approximately $322,000.

Several other hedge funds also recently bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new stake in shares of Atlassian during the fourth quarter worth approximately $97,673,000. Captrust Financial Advisors boosted its holdings in shares of Atlassian by 483.3% during the fourth quarter. Captrust Financial Advisors now owns 1,750 shares of the technology company’s stock worth $215,000 after purchasing an additional 1,450 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Atlassian by 1,916.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 53,341 shares of the technology company’s stock worth $6,419,000 after purchasing an additional 50,696 shares during the period. Gabelli Funds LLC boosted its holdings in shares of Atlassian by 16.7% during the fourth quarter. Gabelli Funds LLC now owns 7,000 shares of the technology company’s stock worth $842,000 after purchasing an additional 1,000 shares during the period. Finally, Castleark Management LLC boosted its holdings in shares of Atlassian by 8.2% during the fourth quarter. Castleark Management LLC now owns 6,340 shares of the technology company’s stock worth $763,000 after purchasing an additional 480 shares during the period. Institutional investors and hedge funds own 90.16% of the company’s stock.

Several analysts recently commented on the stock. Morgan Stanley decreased their price target on shares of Atlassian from $175.00 to $165.00 and set an “overweight” rating for the company in a report on Wednesday. BidaskClub upgraded shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Cowen lifted their target price on shares of Atlassian from $152.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Mizuho lifted their target price on shares of Atlassian from $152.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, TheStreet upgraded shares of Atlassian from a “d” rating to a “c” rating in a research note on Thursday, January 23rd. Seven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Atlassian presently has an average rating of “Buy” and an average target price of $154.11.

TEAM stock traded up $0.96 on Wednesday, reaching $139.16. 2,744,316 shares of the company were exchanged, compared to its average volume of 1,967,402. Atlassian Co. PLC has a 12 month low of $100.25 and a 12 month high of $156.12. The stock’s fifty day moving average price is $142.10 and its 200 day moving average price is $130.28. The firm has a market capitalization of $15.62 billion, a PE ratio of -130.05, a PEG ratio of 41.26 and a beta of 1.11.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 23rd. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.10. Atlassian had a negative net margin of 17.44% and a positive return on equity of 0.68%. The business had revenue of $408.70 million for the quarter, compared to analyst estimates of $389.43 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Atlassian’s revenue was up 36.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Atlassian Co. PLC will post 0.14 earnings per share for the current fiscal year.

About Atlassian

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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