Banque Cantonale Vaudoise Has $3 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ameritas Investment Partners Inc. raised its stake in shares of Atlassian by 1.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after purchasing an additional 65 shares during the period. O Shaughnessy Asset Management LLC raised its position in Atlassian by 33.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,204 shares of the technology company’s stock valued at $820,000 after buying an additional 1,062 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in Atlassian by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the technology company’s stock valued at $429,000 after acquiring an additional 1,100 shares in the last quarter. Crewe Advisors LLC acquired a new position in Atlassian during the 1st quarter worth approximately $43,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd grew its stake in shares of Atlassian by 14.1% during the 1st quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 40,974 shares of the technology company’s stock worth $7,994,000 after acquiring an additional 5,072 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Robert W. Baird boosted their price objective on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Piper Sandler increased their price objective on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. JMP Securities raised Atlassian to a “hold” rating in a research report on Friday, August 2nd. Oppenheimer increased their price target on Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Mizuho boosted their price target on Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $244.21.

Insiders Place Their Bets

In related news, CAO Gene Liu sold 445 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $230.00, for a total transaction of $102,350.00. Following the completion of the sale, the chief accounting officer now owns 58,723 shares of the company’s stock, valued at $13,506,290. This represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $166.36, for a total transaction of $1,322,229.28. Following the completion of the transaction, the chief executive officer now directly owns 158,960 shares in the company, valued at approximately $26,444,585.60. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 246,248 shares of company stock worth $46,207,176 in the last quarter. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Price Performance

Atlassian stock opened at $247.73 on Wednesday. The company has a market capitalization of $64.52 billion, a price-to-earnings ratio of -162.98 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The stock’s 50 day moving average is $189.47 and its 200-day moving average is $175.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm posted ($0.07) EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Equities research analysts expect that Atlassian Co. will post -0.56 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.