Oddo BHF Asset Management Sas Cuts Stock Holdings in Atlassian Corporation PLC $TEAM

Oddo BHF Asset Management Sas trimmed its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 8.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 106,835 shares of the technology company’s stock after selling 10,332 shares during the period. Oddo BHF Asset Management Sas’ holdings in Atlassian were worth $17,322,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Atlassian by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company’s stock valued at $3,006,281,000 after acquiring an additional 61,706 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Atlassian by 3.9% in the 4th quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock worth $1,367,132,000 after buying an additional 316,276 shares in the last quarter. Morgan Stanley grew its stake in shares of Atlassian by 52.4% in the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after buying an additional 1,657,309 shares in the last quarter. State Street Corp grew its stake in shares of Atlassian by 3.3% in the 4th quarter. State Street Corp now owns 3,995,100 shares of the technology company’s stock worth $647,766,000 after buying an additional 127,105 shares in the last quarter. Finally, DNB Asset Management AS grew its stake in shares of Atlassian by 42.2% in the 4th quarter. DNB Asset Management AS now owns 3,990,216 shares of the technology company’s stock worth $646,974,000 after buying an additional 1,183,328 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Atlassian

In related news, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $89.71, for a total transaction of $269,130.00. Following the completion of the sale, the executive owned 227,691 shares in the company, valued at $20,426,159.61. This trade represents a 1.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO James Chuong sold 8,838 shares of Atlassian stock in a transaction dated Tuesday, May 19th. The shares were 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 of the company’s stock, valued at $25,295,868. The trade was a 2.97% decrease in their position. 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 have sold a total of 20,041 shares of company stock valued at $1,801,069 in the last quarter. 36.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on TEAM shares. TD Cowen lifted their price objective on shares of Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, May 1st. Zacks Research raised shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Atlassian in a research note on Monday, April 20th. Piper Sandler dropped their price objective on shares of Atlassian from $200.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. Finally, Truist Financial lifted their price objective on shares of Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $145.63.

Atlassian Price Performance

Atlassian stock opened at $91.55 on Tuesday. The firm has a 50-day moving average price of $81.92 and a 200-day moving average price of $103.87. The firm has a market capitalization of $23.23 billion, a PE ratio of -110.30, a price-to-earnings-growth ratio of 5.02 and a beta of 1.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $222.59.

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

About Atlassian

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.