BDF Gestion Purchases Shares of 11,050 Atlassian Corporation PLC $TEAM

BDF Gestion acquired a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 11,050 shares of the technology company’s stock, valued at approximately $1,792,000.

Other institutional investors have also modified their holdings of the company. Physician Wealth Advisors Inc. grew its position in shares of Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after buying an additional 61 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after acquiring an additional 161 shares during the last quarter. Atlantic Union Bankshares Corp boosted its stake in Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after acquiring an additional 199 shares in the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Atlassian during the fourth quarter worth about $32,000. Finally, Virtus Advisers LLC purchased a new position in shares of Atlassian during the second quarter worth about $61,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wolfe Research reissued an “outperform” rating and issued a $100.00 target price on shares of Atlassian in a report on Thursday, March 12th. Guggenheim dropped their price target on Atlassian from $225.00 to $190.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Morgan Stanley cut their price target on Atlassian from $320.00 to $290.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. Zacks Research cut Atlassian from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. Finally, Jefferies Financial Group set a $150.00 price objective on Atlassian in a report on Friday, February 6th. Twenty-two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $180.48.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $94.81, for a total value of $726,718.65. Following the completion of the sale, the chief executive officer owned 275,940 shares in the company, valued at $26,161,871.40. This trade represents a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Joseph Leo Binz sold 1,653 shares of Atlassian stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $81.35, for a total value of $134,471.55. Following the completion of the sale, the chief financial officer directly owned 208,639 shares in the company, valued at $16,972,782.65. This represents a 0.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 281,953 shares of company stock valued at $38,201,571. Corporate insiders own 36.66% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $74.41 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a fifty day moving average price of $94.82 and a 200 day moving average price of $136.54. Atlassian Corporation PLC has a 1-year low of $67.85 and a 1-year high of $242.00. The company has a market cap of $19.62 billion, a PE ratio of -103.35 and a beta of 0.94.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, February 5th. The technology company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.10. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. Atlassian’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. Sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 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.