Atlassian (NASDAQ:TEAM) reached a new 52-week high and low during trading on Tuesday . The stock traded as low as $62.75 and last traded at $62.33, with a volume of 412435 shares traded. The stock had previously closed at $60.68.
TEAM has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Atlassian from a “hold” rating to a “sell” rating in a research report on Wednesday, January 24th. Morgan Stanley set a $63.00 price target on shares of Atlassian and gave the stock a “buy” rating in a research report on Friday, January 19th. Oppenheimer boosted their price target on shares of Atlassian to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. BidaskClub upgraded shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 18th. Finally, Canaccord Genuity restated a “buy” rating and issued a $60.00 price target (up previously from $52.00) on shares of Atlassian in a research report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $57.40.
The stock has a market capitalization of $6,000.85, a PE ratio of -2,068.67 and a beta of 2.28.
Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in shares of Atlassian in the 4th quarter valued at $116,000. Nelson Roberts Investment Advisors LLC bought a new stake in shares of Atlassian in the 4th quarter valued at $123,000. Public Employees Retirement Association of Colorado increased its stake in shares of Atlassian by 50.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 3,464 shares of the technology company’s stock valued at $158,000 after acquiring an additional 1,165 shares in the last quarter. Elkfork Partners LLC bought a new stake in shares of Atlassian in the 4th quarter valued at $183,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Atlassian in the 4th quarter valued at $201,000. Institutional investors own 88.35% of the company’s stock.
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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.
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