Oddo BHF Asset Management Sas Acquires 182,973 Shares of Atlassian Corporation PLC $TEAM

Oddo BHF Asset Management Sas boosted its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 171.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 289,808 shares of the technology company’s stock after acquiring an additional 182,973 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Atlassian were worth $19,779,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MV Capital Management Inc. acquired a new stake in Atlassian during the 4th quarter worth $25,000. State of Wyoming raised its position in shares of Atlassian by 65.7% during the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after acquiring an additional 178 shares during the last quarter. Basepoint Wealth LLC acquired a new position in shares of Atlassian in the 4th quarter valued at $32,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Atlassian in the 4th quarter valued at $32,000. Finally, Bogart Wealth LLC boosted its position in shares of Atlassian by 76.4% in the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after purchasing an additional 94 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Raymond James Financial reaffirmed an “outperform” rating on shares of Atlassian in a research note on Tuesday, July 21st. Morgan Stanley reduced their target price on Atlassian from $290.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. UBS Group decreased their target price on Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Citigroup cut their price target on shares of Atlassian from $160.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Barclays boosted their price objective on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Twenty-one investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $138.50.

Insider Activity at Atlassian

In related news, CRO Brian Duffy sold 3,000 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the completion of the sale, the executive directly owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James Chuong sold 8,838 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer owned 288,272 shares in the company, valued at $25,295,868. This trade represents a 2.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 20,041 shares of company stock valued at $1,801,069 over the last quarter. 36.66% of the stock is owned by insiders.

Atlassian Stock Performance

TEAM stock opened at $104.28 on Thursday. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $200.39. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. The firm has a market cap of $26.46 billion, a PE ratio of -125.64, a P/E/G ratio of 7.05 and a beta of 1.11. The business’s 50-day moving average price is $89.86 and its two-hundred day moving average price is $87.70.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.42. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 earnings per share. As a group, research analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Atlassian Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.