5,179 Shares in Atlassian Co. (NASDAQ:TEAM) Acquired by BNP Paribas

BNP Paribas bought a new stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,179 shares of the technology company's stock, valued at approximately $1,260,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlassian in the fourth quarter worth approximately $27,000. Summit Securities Group LLC bought a new position in Atlassian during the fourth quarter worth $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian during the 4th quarter worth approximately $39,000. Avion Wealth increased its stake in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after acquiring an additional 157 shares during the period. Finally, Assetmark Inc. boosted its stake in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after buying an additional 41 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 1,723 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the completion of the transaction, the president now owns 199,934 shares of the company's stock, valued at approximately $61,147,814.56. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the sale, the chief executive officer now owns 270,232 shares of the company's stock, valued at approximately $87,098,475.92. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 260,734 shares of company stock valued at $62,944,544 over the last quarter. 38.55% of the stock is owned by insiders.

Atlassian Price Performance

Shares of TEAM traded down $2.18 during trading hours on Wednesday, hitting $205.71. 2,203,106 shares of the stock were exchanged, compared to its average volume of 2,078,968. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock's 50-day moving average price is $219.57 and its two-hundred day moving average price is $245.69. The company has a market cap of $53.90 billion, a price-to-earnings ratio of -153.51 and a beta of 1.06. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the company earned $0.89 EPS. The company's quarterly revenue was up 14.1% on a year-over-year basis. Research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TEAM. Morgan Stanley cut their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. William Blair reissued an "outperform" rating on shares of Atlassian in a research report on Friday, January 31st. KeyCorp reduced their price objective on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Piper Sandler reissued an "overweight" rating and issued a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, Macquarie reduced their target price on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $285.29.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.