Atlassian Co. (NASDAQ:TEAM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Atlassian Co. (NASDAQ:TEAM) have earned an average recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, MarketBeat reports. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $212.47.

Several research firms have issued reports on TEAM. Oppenheimer restated an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a research report on Monday, September 23rd. Capital One Financial raised Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price for the company in a report on Thursday, July 11th. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and increased their price target for the company from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Barclays decreased their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th.

Insider Buying and Selling at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 294,076 shares in the company, valued at approximately $41,329,441.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Wednesday, August 7th. The shares were 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 owns 294,076 shares of the company’s stock, valued at approximately $41,329,441.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Rajeev Bashyam Rajan sold 5,172 shares of the company’s stock in a transaction on Friday, October 11th. The stock was 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 owns 204,109 shares of the company’s stock, valued at $38,780,710. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 230,185 shares of company stock worth $38,683,550 over the last 90 days. 40.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently added to or reduced their stakes in TEAM. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Atlassian by 7.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after purchasing an additional 10,434 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in Atlassian by 2.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $34,213,000 after buying an additional 3,687 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Atlassian during the third quarter worth approximately $97,350,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Atlassian in the second quarter valued at approximately $12,846,000. Finally, Burney Co. acquired a new stake in shares of Atlassian in the first quarter worth $1,095,000. Institutional investors own 93.03% of the company’s stock.

Atlassian Price Performance

NASDAQ TEAM opened at $188.66 on Tuesday. Atlassian has a 12 month low of $135.29 and a 12 month high of $258.69. The firm has a market capitalization of $49.11 billion, a PE ratio of -299.46 and a beta of 0.73. The company’s 50 day simple moving average is $169.41 and its 200 day simple moving average is $171.27. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.21) EPS. As a group, equities research analysts forecast that Atlassian will post -0.58 EPS for the current fiscal year.

Atlassian Company Profile

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.