Atlassian Sees Unusually Large Options Volume (TEAM)

Atlassian Co. PLC (NASDAQ:TEAM) was the recipient of some unusual options trading on Thursday. Stock traders acquired 1,601 put options on the company. This is an increase of 1,329% compared to the average daily volume of 112 put options.

TEAM has been the subject of a number of recent analyst reports. Zacks Investment Research cut Atlassian from a “buy” rating to a “hold” rating in a report on Saturday, November 11th. Cowen reiterated an “outperform” rating and issued a $55.00 price objective (up from $47.00) on shares of Atlassian in a research report on Friday, October 20th. Morgan Stanley set a $49.00 price objective on Atlassian and gave the company a “buy” rating in a research report on Friday, October 20th. JMP Securities increased their price objective on Atlassian from $41.00 to $47.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Finally, Robert W. Baird increased their price objective on Atlassian from $43.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $55.90.

Atlassian (TEAM) opened at $53.07 on Friday. The company has a market capitalization of $5,426.00, a price-to-earnings ratio of -104.06 and a beta of 2.64. Atlassian has a 12-month low of $26.96 and a 12-month high of $55.91.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 19th. The technology company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.17. Atlassian had a negative return on equity of 3.97% and a negative net margin of 15.85%. The business had revenue of $193.80 million for the quarter, compared to analyst estimates of $185.78 million. During the same period last year, the company earned $0.10 EPS. The firm’s revenue was up 41.7% on a year-over-year basis. equities analysts expect that Atlassian will post -0.13 EPS for the current year.

Large investors have recently bought and sold shares of the company. Voya Investment Management LLC boosted its position in shares of Atlassian by 166.3% in the 2nd quarter. Voya Investment Management LLC now owns 28,189 shares of the technology company’s stock worth $992,000 after purchasing an additional 17,604 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Atlassian by 36.2% in the 3rd quarter. Wells Fargo & Company MN now owns 497,185 shares of the technology company’s stock worth $17,476,000 after purchasing an additional 132,081 shares during the last quarter. Sei Investments Co. boosted its position in shares of Atlassian by 12.2% in the 3rd quarter. Sei Investments Co. now owns 294,226 shares of the technology company’s stock worth $10,342,000 after purchasing an additional 31,935 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Atlassian by 28.4% in the 3rd quarter. Artisan Partners Limited Partnership now owns 7,543,086 shares of the technology company’s stock worth $265,139,000 after purchasing an additional 1,668,292 shares during the last quarter. Finally, Amalgamated Bank bought a new position in shares of Atlassian in the 2nd quarter worth $479,000. Institutional investors and hedge funds own 80.97% of the company’s stock.

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About Atlassian

Atlassian Corporation Plc is a holding company. The Company offers a range of team collaboration products. The Company offers products, including JIRA, Confluence, HipChat, Bitbucket and JIRA Service Desk, for software developers, information technology (IT) managers and knowledge workers. The Company offers JIRA for team planning and project management; Confluence for team content creation and sharing; HipChat for team real-time messaging and communications; Bitbucket for team code sharing and management, and JIRA Service Desk for team service and support applications.

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