Banque Cantonale Vaudoise Takes Position in Atlassian Corporation PLC (NASDAQ:TEAM)

Key Points

• Banque Cantonale Vaudoise acquired 9,510 shares of Atlassian valued at approximately $2 million during the first quarter, indicating increased institutional interest in the company.
• Insiders, including the Director and CEO, sold a total of 484,635 shares worth about $99.8 million in the last quarter, highlighting potential shifts in stakeholder confidence.
• Research analysts have adjusted their price targets for Atlassian, with a consensus rating of "Moderate Buy" and an average target of $274.05, reflecting a generally positive outlook despite recent target reductions.

Banque Cantonale Vaudoise bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,510 shares of the technology company's stock, valued at approximately $2,018,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in Atlassian by 93.4% in the fourth quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock valued at $12,542,000 after buying an additional 24,891 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in Atlassian in the fourth quarter valued at about $615,000. O Shaughnessy Asset Management LLC increased its holdings in Atlassian by 38.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,169 shares of the technology company's stock valued at $2,232,000 after buying an additional 2,547 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Atlassian by 128.7% in the fourth quarter. Alliancebernstein L.P. now owns 143,260 shares of the technology company's stock valued at $34,867,000 after buying an additional 80,622 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG increased its holdings in Atlassian by 14.1% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 7,056 shares of the technology company's stock valued at $1,719,000 after buying an additional 870 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Price Performance

Shares of NASDAQ TEAM traded down $8.82 during trading on Friday, hitting $182.96. The company had a trading volume of 1,944,063 shares, compared to its average volume of 1,926,517. The company has a market cap of $48.03 billion, a P/E ratio of -110.22 and a beta of 0.96. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The business's 50-day moving average is $202.78 and its 200 day moving average is $229.08. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the business earned $0.89 EPS. The company's revenue was up 14.1% on a year-over-year basis. Equities research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $197.88, for a total transaction of $1,516,750.20. Following the sale, the director directly owned 329,595 shares of the company's stock, valued at $65,220,258.60. The trade was a 2.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $197.88, for a total transaction of $1,516,750.20. Following the sale, the chief executive officer directly owned 329,595 shares in the company, valued at approximately $65,220,258.60. This trade represents a 2.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 492,017 shares of company stock worth $101,133,506. Company insiders own 38.55% of the company's stock.

Analysts Set New Price Targets

TEAM has been the subject of several research analyst reports. Baird R W raised Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Canaccord Genuity Group decreased their target price on Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. UBS Group restated a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Capital One Financial downgraded Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 target price for the company. in a research note on Wednesday, July 16th. Finally, Jefferies Financial Group decreased their target price on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Five 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $274.05.

Atlassian 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.