Banque Cantonale Vaudoise Grows Stock Position in Atlassian Co. (NASDAQ:TEAM)

Banque Cantonale Vaudoise boosted its stake in Atlassian Co. (NASDAQ:TEAM) by 13.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,294 shares of the technology company’s stock after buying an additional 1,676 shares during the period. Banque Cantonale Vaudoise’s holdings in Atlassian were worth $2,529,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Rothschild Investment LLC acquired a new stake in Atlassian in the second quarter worth $36,000. Hantz Financial Services Inc. acquired a new stake in Atlassian in the second quarter worth $1,481,000. iA Global Asset Management Inc. increased its position in Atlassian by 9.5% in the second quarter. iA Global Asset Management Inc. now owns 20,162 shares of the technology company’s stock worth $3,566,000 after buying an additional 1,748 shares during the period. Azzad Asset Management Inc. ADV increased its position in Atlassian by 22.8% in the second quarter. Azzad Asset Management Inc. ADV now owns 1,721 shares of the technology company’s stock worth $304,000 after buying an additional 320 shares during the period. Finally, KCM Investment Advisors LLC increased its position in Atlassian by 108.0% in the second quarter. KCM Investment Advisors LLC now owns 4,950 shares of the technology company’s stock worth $876,000 after buying an additional 2,570 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TEAM shares. Truist Financial dropped their target price on Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. JMP Securities raised Atlassian to a “hold” rating in a research note on Friday, August 2nd. Piper Sandler raised Atlassian from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $200.00 to $225.00 in a research note on Tuesday, July 2nd. Finally, Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $230.00 to $175.00 in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $217.69.

Atlassian Trading Down 1.1 %

Shares of NASDAQ:TEAM traded down $1.85 during midday trading on Friday, reaching $165.60. The company had a trading volume of 1,428,699 shares, compared to its average volume of 1,786,460. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The firm has a market cap of $43.06 billion, a price-to-earnings ratio of -262.86 and a beta of 0.74. The company has a fifty day simple moving average of $166.33 and a two-hundred day simple moving average of $180.21.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the company posted ($0.21) EPS. Atlassian’s revenue for the quarter was up 20.5% on a year-over-year basis. Research analysts predict that Atlassian Co. will post -0.57 earnings per share for the current year.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $166.36, for a total value of $1,322,229.28. Following the completion of the transaction, the chief executive officer now owns 158,960 shares in the company, valued at approximately $26,444,585.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $157.52, for a total value of $1,298,122.32. Following the completion of the sale, the chief executive officer now directly owns 127,461 shares of the company’s stock, valued at approximately $20,077,656.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $166.36, for a total value of $1,322,229.28. Following the completion of the sale, the chief executive officer now directly owns 158,960 shares of the company’s stock, valued at $26,444,585.60. The disclosure for this sale can be found here. Insiders sold 256,348 shares of company stock worth $42,730,178 in the last quarter. 40.48% of the stock is owned by company insiders.

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.