Unusual Put Option Trade in Atlassian Corporation Worth $7,276K

On May 10, 2023 at 13:27:00 ET an unusually large $7,276.00K block of Put contracts in Atlassian Corporation – (TEAM) was sold, with a strike price of $180.00 / share, expiring in 37 day(s) (on June 16, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 2.05 sigmas above the mean, placing it in the 99.99th percentile of all recent large trades made in TEAM options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 1215 funds or institutions reporting positions in Atlassian Corporation -. This is an increase of 15 owner(s) or 1.25% in the last quarter. Average portfolio weight of all funds dedicated to TEAM is 0.44%, a decrease of 17.87%. Total shares owned by institutions increased in the last three months by 11.42% to 174,594K shares. The put/call ratio of TEAM is 1.17, indicating a bearish outlook.

Analyst Price Forecast Suggests 53.14% Upside

As of April 23, 2023, the average one-year price target for Atlassian Corporation – is 203.91. The forecasts range from a low of 151.50 to a high of $483.00. The average price target represents an increase of 53.14% from its latest reported closing price of 133.15.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Atlassian Corporation – is 3,552MM, an increase of 5.86%. The projected annual non-GAAP EPS is 1.42.

What are Other Shareholders Doing?

Price T Rowe Associates holds 19,513K shares representing 7.61% ownership of the company. In it’s prior filing, the firm reported owning 19,036K shares, representing an increase of 2.45%. The firm decreased its portfolio allocation in TEAM by 38.50% over the last quarter.

Wcm Investment Management holds 9,504K shares representing 3.71% ownership of the company. In it’s prior filing, the firm reported owning 5,880K shares, representing an increase of 38.13%. The firm decreased its portfolio allocation in TEAM by 8.96% over the last quarter.

Baillie Gifford holds 7,476K shares representing 2.92% ownership of the company. In it’s prior filing, the firm reported owning 7,643K shares, representing a decrease of 2.23%. The firm decreased its portfolio allocation in TEAM by 57.96% over the last quarter.

Janus Henderson Group holds 5,734K shares representing 2.24% ownership of the company. In it’s prior filing, the firm reported owning 5,582K shares, representing an increase of 2.64%. The firm decreased its portfolio allocation in TEAM by 79.04% over the last quarter.

Sands Capital Management holds 5,599K shares representing 2.18% ownership of the company. In it’s prior filing, the firm reported owning 5,801K shares, representing a decrease of 3.61%. The firm decreased its portfolio allocation in TEAM by 40.63% over the last quarter.

Atlassian Background Information
(This description is provided by the company.)

Atlassian is a global software company helping teams around the world unleash their potential. The Company builds tools that help teams collaborate, build, and create together. With more than 180,000 customers and team of more than 5,000 Atlassians, the Company is building the next generation of team collaboration and productivity software. It believes the power of teams have the potential to change the world—one that is more open, authentic, and inclusive.

See all Atlassian Corporation – regulatory filings.

This article originally appeared on Fintel