Atlassian Sees Unusually Large Options Volume (NASDAQ:TEAM)

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

Insider Buying and Selling

In other news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. In other news, CTO Rajeev Bashyam Rajan sold 5,172 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $190.00, for a total transaction of $982,680.00. Following the completion of the sale, the chief technology officer now directly owns 204,109 shares in the company, valued at approximately $38,780,710. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 230,185 shares of company stock worth $39,155,661 in the last 90 days. 38.55% of the stock is owned by company insiders.

Institutional Trading of Atlassian

A number of large investors have recently made changes to their positions in the stock. Hollencrest Capital Management boosted its position in Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares during the period. Asset Dedication LLC increased its holdings in Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont raised its position in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of Atlassian in the 2nd quarter worth $36,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Atlassian during the 1st quarter worth $40,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $224.35 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $58.34 billion, a price-to-earnings ratio of -193.41 and a beta of 0.73. Atlassian has a 12 month low of $135.29 and a 12 month high of $258.69. The firm’s 50-day moving average is $172.01 and its 200 day moving average is $171.24.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping 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 firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business posted ($0.21) earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. Research analysts predict that Atlassian will post -0.58 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on TEAM shares. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Barclays dropped their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Jefferies Financial Group lifted their target price on Atlassian from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Friday. JMP Securities raised Atlassian to a “hold” rating in a research report on Friday, August 2nd. Finally, Truist Financial boosted their target price on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.16.

About Atlassian

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.