Oddo BHF Asset Management Sas Buys New Position in Atlassian Co. (NASDAQ:TEAM)

Oddo BHF Asset Management Sas purchased a new position in shares of Atlassian Co. (NASDAQ:TEAM) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 72,022 shares of the technology company’s stock, valued at approximately $11,438,000.

Other hedge funds also recently made changes to their positions in the company. Asset Dedication LLC grew its stake in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC grew its stake in shares of 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 buying an additional 96 shares in the last quarter. True Wealth Design LLC increased its holdings in Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the last quarter. Finally, Reston Wealth Management LLC bought a new stake in Atlassian during the third quarter worth $48,000. 94.45% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $269.35, for a total transaction of $2,140,793.80. Following the transaction, the director now directly owns 111,272 shares of the company’s stock, valued at approximately $29,971,113.20. This trade represents a 6.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the sale, the president now directly owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This trade represents a 0.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 268,642 shares of company stock worth $56,073,616 in the last three months. 38.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Jefferies Financial Group lifted their price objective on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Oppenheimer upped their price objective on Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group raised their target price on shares of Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets lifted their target price on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Finally, Mizuho lifted their price target on shares of Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $256.50.

Atlassian Stock Performance

NASDAQ TEAM opened at $279.18 on Friday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The company has a 50-day simple moving average of $226.93 and a 200 day simple moving average of $185.86. The company has a market capitalization of $72.71 billion, a PE ratio of -183.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company earned ($0.07) earnings per share. Atlassian’s revenue was up 21.5% compared to the same quarter last year. On average, research analysts predict that Atlassian Co. will post -0.54 EPS for the current year.

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.