Principal Financial Group Inc. Purchases 248 Shares of Atlassian Co. Plc (NASDAQ:TEAM)

Principal Financial Group Inc. boosted its stake in shares of Atlassian Co. Plc (NASDAQ:TEAM) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,136 shares of the technology company’s stock after purchasing an additional 248 shares during the quarter. Principal Financial Group Inc.’s holdings in Atlassian were worth $2,371,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Capital Advisory Group Advisory Services LLC raised its stake in Atlassian by 922.7% during the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 1,125 shares of the technology company’s stock valued at $263,000 after purchasing an additional 1,015 shares during the last quarter. Symmetry Partners LLC acquired a new position in Atlassian during the 4th quarter valued at $214,000. Truist Financial Corp raised its stake in Atlassian by 71.9% during the 4th quarter. Truist Financial Corp now owns 21,087 shares of the technology company’s stock valued at $4,931,000 after purchasing an additional 8,820 shares during the last quarter. Twinbeech Capital LP raised its stake in Atlassian by 478.7% during the 4th quarter. Twinbeech Capital LP now owns 9,190 shares of the technology company’s stock valued at $2,149,000 after purchasing an additional 7,602 shares during the last quarter. Finally, United Capital Financial Advisers LLC raised its stake in Atlassian by 451.8% during the 4th quarter. United Capital Financial Advisers LLC now owns 12,256 shares of the technology company’s stock valued at $2,866,000 after purchasing an additional 10,035 shares during the last quarter. Hedge funds and other institutional investors own 91.46% of the company’s stock.

Several research firms recently commented on TEAM. Canaccord Genuity upped their target price on shares of Atlassian from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, January 29th. BMO Capital Markets increased their price objective on shares of Atlassian from $235.00 to $260.00 and gave the company a “market perform” rating in a research note on Friday, January 29th. Macquarie assumed coverage on shares of Atlassian in a research note on Wednesday, January 6th. They issued an “outperform” rating for the company. Mizuho increased their price objective on shares of Atlassian from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, January 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of Atlassian in a report on Tuesday, February 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $240.00.

Shares of NASDAQ TEAM opened at $228.45 on Friday. The firm has a market capitalization of $30.19 billion, a PE ratio of -126.22, a price-to-earnings-growth ratio of 155.95 and a beta of 0.99. Atlassian Co. Plc has a 1 year low of $146.06 and a 1 year high of $262.40. The firm’s 50-day moving average is $224.61 and its 200-day moving average is $223.83.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Wednesday, January 27th. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $501.40 million for the quarter, compared to analyst estimates of $473.87 million. Atlassian had a negative net margin of 25.82% and a positive return on equity of 2.57%. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. As a group, equities research analysts expect that Atlassian Co. Plc will post 0.06 EPS for the current year.

Atlassian 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 collaboration and organization product, which captures and adds structure to fluid fast-forming work for teams.

Featured Story: Market Perform

Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Co. Plc (NASDAQ:TEAM).

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.