Traders Purchase Large Volume of Atlassian Put Options (NASDAQ:TEAM)

Atlassian Co. PLC (NASDAQ:TEAM) saw some unusual options trading activity on Wednesday. Investors bought 839 put options on the company. This is an increase of 962% compared to the average volume of 79 put options.

A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Saturday, November 11th. Robert W. Baird increased their price target on shares of Atlassian from $43.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Summit Redstone reiterated a “buy” rating on shares of Atlassian in a research note on Thursday, October 19th. Cowen restated an “outperform” rating and issued a $55.00 target price (up previously from $47.00) on shares of Atlassian in a research note on Friday, October 20th. Finally, Morgan Stanley set a $49.00 target price on shares of Atlassian and gave the stock a “buy” rating in a research note on Friday, October 20th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Atlassian has a consensus rating of “Buy” and a consensus price target of $49.20.

Shares of Atlassian (NASDAQ TEAM) opened at $44.97 on Wednesday. Atlassian has a twelve month low of $23.80 and a twelve month high of $53.45.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 19th. The technology company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.17. Atlassian had a negative net margin of 7.96% and a negative return on equity of 2.11%. The business had revenue of $193.80 million during the quarter, compared to the consensus estimate of $185.78 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The company’s quarterly revenue was up 41.7% compared to the same quarter last year. analysts anticipate that Atlassian will post -0.13 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. lifted its position in Atlassian by 0.8% during the second quarter. Russell Investments Group Ltd. now owns 5,549 shares of the technology company’s stock valued at $196,000 after buying an additional 46 shares in the last quarter. Macquarie Group Ltd. lifted its position in Atlassian by 0.8% during the second quarter. Macquarie Group Ltd. now owns 49,354 shares of the technology company’s stock valued at $1,736,000 after buying an additional 375 shares in the last quarter. BlueCrest Capital Management Ltd lifted its position in Atlassian by 10.0% during the second quarter. BlueCrest Capital Management Ltd now owns 8,133 shares of the technology company’s stock valued at $286,000 after buying an additional 741 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Atlassian by 2.0% during the second quarter. UBS Asset Management Americas Inc. now owns 84,266 shares of the technology company’s stock worth $2,964,000 after purchasing an additional 1,685 shares in the last quarter. Finally, AHL Partners LLP lifted its position in shares of Atlassian by 1.9% during the second quarter. AHL Partners LLP now owns 106,616 shares of the technology company’s stock worth $3,751,000 after purchasing an additional 1,964 shares in the last quarter. 80.99% of the stock is currently owned by institutional investors and hedge funds.

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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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