AQR Capital Management LLC Reduces Position in Atlassian Co. PLC (NASDAQ:TEAM)

AQR Capital Management LLC lessened its position in shares of Atlassian Co. PLC (NASDAQ:TEAM) by 16.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,036 shares of the technology company’s stock after selling 3,472 shares during the quarter. AQR Capital Management LLC’s holdings in Atlassian were worth $2,476,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TEAM. BDO Wealth Advisors LLC purchased a new position in Atlassian during the 1st quarter worth approximately $28,000. Parallel Advisors LLC grew its stake in Atlassian by 73.2% during the 1st quarter. Parallel Advisors LLC now owns 213 shares of the technology company’s stock worth $29,000 after buying an additional 90 shares during the last quarter. San Francisco Sentry Investment Group CA grew its stake in Atlassian by 92.6% during the 1st quarter. San Francisco Sentry Investment Group CA now owns 262 shares of the technology company’s stock worth $36,000 after buying an additional 126 shares during the last quarter. Americana Partners LLC purchased a new position in Atlassian during the 4th quarter worth approximately $38,000. Finally, Synovus Financial Corp purchased a new position in Atlassian during the 1st quarter worth approximately $38,000. Hedge funds and other institutional investors own 93.34% of the company’s stock.

Several research analysts have weighed in on TEAM shares. ValuEngine downgraded Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, May 1st. Mizuho lifted their target price on Atlassian from $175.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. SunTrust Banks reiterated a “buy” rating on shares of Atlassian in a research note on Tuesday, April 14th. BidaskClub downgraded Atlassian from a “buy” rating to a “hold” rating in a research note on Wednesday, June 17th. Finally, KeyCorp lifted their target price on Atlassian from $163.00 to $201.00 and gave the company an “overweight” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $171.35.

Shares of TEAM stock opened at $175.13 on Wednesday. The stock has a fifty day moving average price of $178.65 and a 200 day moving average price of $149.20. The stock has a market cap of $21.35 billion, a PE ratio of -201.30, a P/E/G ratio of 61.10 and a beta of 1.03. Atlassian Co. PLC has a 1 year low of $107.00 and a 1 year high of $191.72.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The firm had revenue of $411.60 million during the quarter, compared to analysts’ expectations of $396.22 million. Atlassian had a positive return on equity of 0.84% and a negative net margin of 13.37%. Atlassian’s revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 earnings per share. As a group, sell-side analysts anticipate that Atlassian Co. PLC will post 0.13 EPS for the current 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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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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