Penserra Capital Management LLC Boosts Stake in Atlassian (TEAM)

Penserra Capital Management LLC grew its holdings in shares of Atlassian (NASDAQ:TEAM) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 184,006 shares of the technology company’s stock after purchasing an additional 3,524 shares during the quarter. Penserra Capital Management LLC owned approximately 0.18% of Atlassian worth $9,921,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Alliancebernstein L.P. increased its holdings in Atlassian by 2.9% in the 4th quarter. Alliancebernstein L.P. now owns 41,592 shares of the technology company’s stock valued at $1,893,000 after purchasing an additional 1,170 shares in the last quarter. BlackRock Inc. lifted its holdings in Atlassian by 31.9% in the fourth quarter. BlackRock Inc. now owns 2,193,451 shares of the technology company’s stock worth $99,846,000 after acquiring an additional 530,523 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Atlassian by 26.6% in the fourth quarter. Bank of New York Mellon Corp now owns 219,858 shares of the technology company’s stock worth $10,009,000 after acquiring an additional 46,234 shares during the last quarter. Verition Fund Management LLC bought a new position in Atlassian in the fourth quarter worth about $1,065,000. Finally, Nicholas Investment Partners LP bought a new position in Atlassian in the fourth quarter worth about $1,854,000. 91.16% of the stock is currently owned by institutional investors.

Atlassian traded up $0.50, reaching $61.99, on Tuesday, according to Marketbeat Ratings. The company’s stock had a trading volume of 28,690 shares, compared to its average volume of 1,551,381. The stock has a market cap of $6.31 billion, a P/E ratio of -2,067.33 and a beta of 2.28. Atlassian has a 52 week low of $32.58 and a 52 week high of $66.00.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 19th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.13. Atlassian had a negative net margin of 14.19% and a negative return on equity of 3.18%. The company had revenue of $223.70 million for the quarter, compared to analyst estimates of $218.79 million. During the same period in the prior year, the business earned $0.08 earnings per share. Atlassian’s quarterly revenue was up 39.9% on a year-over-year basis.

A number of research firms have recently weighed in on TEAM. BidaskClub raised Atlassian from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 8th. Cowen reissued a “buy” rating and set a $70.00 target price on shares of Atlassian in a report on Wednesday, April 18th. JMP Securities lowered shares of Atlassian from an “outperform” rating to a “market perform” rating in a research report on Friday, April 20th. BMO Capital Markets lifted their price target on shares of Atlassian from $56.00 to $65.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 18th. They noted that the move was a valuation call. Finally, Jefferies Group cut shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $61.30.

Atlassian Company Profile

Atlassian Corporation Plc, through its subsidiaries, provides team collaboration and productivity software solutions worldwide. It offers project tracking, content creation and sharing, real-time communication, and service management products to large and small organizations. 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; HipChat that provides teams a way to communicate in real-time and share ideas, updates, codes, and files; Trello, a Web-based project management application for capturing and adding structure to fluid and fast-forming work for teams; Bitbucket, a code management and collaboration product for teams using distributed version control systems; and JIRA Service Desk, a service desk product for creating and managing service experiences for various service team providers, including IT help desks, and legal and HR teams.

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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