NewEdge Advisors LLC Grows Stock Holdings in Atlassian Corporation PLC $TEAM

NewEdge Advisors LLC raised its holdings in shares of Atlassian Corporation PLC ( NASDAQ:TEAM ) by 86.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,377 shares of the technology company’s stock after acquiring an additional 3,890 shares during the quarter. NewEdge Advisors LLC’s holdings in Atlassian were worth $652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of TEAM. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Atlassian by 69.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 62,000 shares of the technology company’s stock worth $4,232,000 after buying an additional 25,400 shares during the period. Fluent Financial LLC bought a new position in shares of Atlassian during the 2nd quarter valued at approximately $2,239,000. National Pension Service grew its stake in shares of Atlassian by 15.5% during the 4th quarter. National Pension Service now owns 280,720 shares of the technology company’s stock valued at $45,516,000 after acquiring an additional 37,607 shares during the period. Arizona State Retirement System increased its holdings in Atlassian by 6.5% in the 2nd quarter. Arizona State Retirement System now owns 48,629 shares of the technology company’s stock worth $3,783,000 after acquiring an additional 2,969 shares in the last quarter. Finally, Ilmarinen Mutual Pension Insurance Co raised its stake in Atlassian by 164.3% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 92,500 shares of the technology company’s stock worth $14,998,000 after acquiring an additional 57,500 shares during the period.

TEAM stock opened at $192.61 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.78 and a quick ratio of 0.78. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $200.00. The business has a 50 day simple moving average of $154.34 and a two-hundred day simple moving average of $106.59. The company has a market capitalization of $48.88 billion, a price-to-earnings ratio of -1,013.74, a PEG ratio of 14.82 and a beta of 1.15.

Atlassian ( NASDAQ:TEAM ) last released its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.37. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the business posted $0.98 earnings per share. The company’s revenue for the quarter was up 27.6% compared to the same quarter last year. Research analysts anticipate that Atlassian Corporation PLC will post 0.94 EPS for the current fiscal year.

Several brokerages have weighed in on TEAM. Wells Fargo & Company lifted their price target on shares of Atlassian from $140.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, August 7th. BMO Capital Markets increased their price objective on shares of Atlassian from $95.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Oppenheimer raised their price objective on shares of Atlassian from $110.00 to $200.00 and gave the company an “outperform” ...