Atlassian Sees Unusually Large Options Volume (TEAM)

Atlassian Co. PLC (NASDAQ:TEAM) was the target of unusually large options trading on Thursday. Stock investors bought 1,601 put options on the stock. This is an increase of approximately 1,329% compared to the typical daily volume of 112 put options.

Several brokerages recently commented on TEAM. Jefferies Group raised their price objective on Atlassian to $53.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. BidaskClub raised Atlassian from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Guggenheim reaffirmed a “hold” rating and set a $50.00 price objective on shares of Atlassian in a research note on Friday. Oppenheimer raised their price objective on Atlassian to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 price objective (up previously from $44.00) on shares of Atlassian in a research note on Friday, October 20th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $55.90.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its stake in shares of Atlassian by 0.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 5,549 shares of the technology company’s stock valued at $196,000 after purchasing an additional 46 shares during the period. Macquarie Group Ltd. raised its stake in shares of Atlassian by 0.8% in the 2nd quarter. Macquarie Group Ltd. now owns 49,354 shares of the technology company’s stock valued at $1,736,000 after purchasing an additional 375 shares during the period. BlueCrest Capital Management Ltd raised its stake in shares of Atlassian by 10.0% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 8,133 shares of the technology company’s stock valued at $286,000 after purchasing an additional 741 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of Atlassian by 2.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 84,266 shares of the technology company’s stock valued at $2,964,000 after purchasing an additional 1,685 shares during the period. Finally, AHL Partners LLP raised its stake in shares of Atlassian by 1.9% in the 2nd quarter. AHL Partners LLP now owns 106,616 shares of the technology company’s stock valued at $3,751,000 after purchasing an additional 1,964 shares during the period. 80.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Atlassian (NASDAQ TEAM) opened at $53.07 on Friday. Atlassian has a 12 month low of $26.96 and a 12 month high of $55.91. 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 (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 19th. The technology company reported $0.12 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $193.80 million for the quarter, compared to the consensus estimate of $185.78 million. During the same quarter last year, the business posted $0.10 EPS. The company’s revenue for the quarter was up 41.7% on a year-over-year basis. equities research analysts predict that Atlassian will post -0.13 earnings per share for the current year.

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Atlassian Company Profile

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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