Stock Traders Purchase High Volume of Atlassian Call Options (NASDAQ:TEAM)

Atlassian Co. (NASDAQ:TEAM) was the target of unusually large options trading activity on Friday. Stock investors bought 18,267 call options on the company. This is an increase of 253% compared to the typical volume of 5,174 call options.

Analyst Upgrades and Downgrades

TEAM has been the subject of several research reports. Mizuho upped their price target on shares of Atlassian from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley increased their target price on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and increased their target price for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Oppenheimer boosted their price target on Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Scotiabank cut their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $231.84.

Insiders Place Their Bets

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the sale, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at $41,329,441.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the sale, the chief executive officer now directly owns 294,076 shares in the company, valued at $41,329,441.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $188.79, for a total transaction of $143,480.40. Following the completion of the sale, the president now owns 228,996 shares of the company’s stock, valued at $43,232,154.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,185 shares of company stock valued at $39,155,661 in the last three months. Corporate insiders own 38.55% of the company’s stock.

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Vanguard Group Inc. increased its holdings in Atlassian by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after buying an additional 221,650 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after buying an additional 904,138 shares during the last quarter. Dragoneer Investment Group LLC purchased a new stake in Atlassian in the 2nd quarter valued at approximately $469,803,000. Capital International Investors lifted its stake in shares of Atlassian by 6.3% during the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock valued at $475,399,000 after buying an additional 144,117 shares during the period. Finally, Clearbridge Investments LLC boosted its position in Atlassian by 6.7% during the first quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock worth $404,059,000 after acquiring an additional 130,253 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM traded up $29.41 during mid-day trading on Friday, reaching $217.95. 3,799,065 shares of the stock were exchanged, compared to its average volume of 1,795,566. The stock has a market capitalization of $56.67 billion, a P/E ratio of -187.81 and a beta of 0.73. The company has a 50 day simple moving average of $172.01 and a 200-day simple moving average of $171.24. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian has a 1 year low of $135.29 and a 1 year high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted ($0.21) EPS. The company’s revenue was up 20.5% on a year-over-year basis. Analysts anticipate that Atlassian will post -0.58 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.