Banque Cantonale Vaudoise Buys 4,583 Shares of Atlassian Co. (NASDAQ:TEAM)

Banque Cantonale Vaudoise lifted its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 32.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,877 shares of the technology company’s stock after purchasing an additional 4,583 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Atlassian were worth $2,998,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Asset Dedication LLC grew its stake in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after buying an additional 108 shares during the last quarter. Trust Co. of Vermont increased its holdings in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new position in Atlassian in the 2nd quarter worth about $36,000. GAMMA Investing LLC raised its position in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Atlassian during the first quarter valued at about $43,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the transaction, the president now owns 143,966 shares in the company, valued at approximately $23,482,294.26. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $164.81, for a total value of $1,309,909.88. Following the completion of the sale, the chief executive officer now directly owns 182,804 shares of the company’s stock, valued at approximately $30,127,927.24. This trade represents a 4.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 246,248 shares of company stock valued at $46,207,176. 38.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Oppenheimer raised their price objective on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Raymond James boosted their price objective on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Truist Financial raised their target price on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Scotiabank upped their price target on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $247.73 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm’s 50-day moving average price is $189.47 and its 200-day moving average price is $175.00. The firm has a market capitalization of $64.52 billion, a P/E ratio of -162.98 and a beta of 0.71. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) earnings per share. Equities research analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

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.