1,225,768 Shares in Atlassian Co. (NASDAQ:TEAM) Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets acquired a new position in Atlassian Co. (NASDAQ:TEAM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,225,768 shares of the technology company's stock, valued at approximately $298,327,000. BNP Paribas Financial Markets owned 0.47% of Atlassian at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TEAM. Virtu Financial LLC purchased a new position in Atlassian during the third quarter valued at approximately $606,000. Fulton Bank N.A. purchased a new position in Atlassian in the fourth quarter valued at about $447,000. Allworth Financial LP raised its holdings in Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after purchasing an additional 47 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Atlassian by 20.1% during the fourth quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company's stock valued at $7,458,000 after buying an additional 5,088 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Atlassian by 61.4% in the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock valued at $1,710,000 after buying an additional 4,099 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Atlassian Price Performance

Shares of Atlassian stock traded up $0.11 during trading hours on Tuesday, reaching $207.89. The stock had a trading volume of 1,841,778 shares, compared to its average volume of 2,075,545. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The stock's 50 day moving average is $220.99 and its 200 day moving average is $245.96. The firm has a market capitalization of $54.47 billion, a PE ratio of -155.14 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the company posted $0.89 EPS. The business's quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $318.91, for a total value of $2,534,696.68. Following the completion of the transaction, the chief executive officer now directly owns 294,076 shares of the company's stock, valued at approximately $93,783,777.16. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.58, for a total transaction of $475,121.60. Following the sale, the president now directly owns 201,657 shares in the company, valued at approximately $63,033,945.06. This trade represents a 0.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 260,734 shares of company stock worth $63,835,594 over the last 90 days. 38.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on TEAM shares. JMP Securities restated a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Morgan Stanley reduced their target price on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Macquarie lowered their price target on Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a report on Friday. Citigroup boosted their price target on Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. Finally, Mizuho lifted their target price on shares of Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $285.29.

Atlassian Company Profile

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.