Atlassian’s (TEAM) “Outperform” Rating Reiterated at William Blair

William Blair restated their outperform rating on shares of Atlassian (NASDAQ:TEAM) in a research report report published on Friday morning,RTT News reports.

TEAM has been the subject of several other reports. Jefferies Financial Group lifted their price target on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. Canaccord Genuity Group lifted their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. Oppenheimer boosted their target price on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Raymond James reissued an “outperform” rating and set a $330.00 target price (up from $250.00) on shares of Atlassian in a research note on Friday. Finally, Citigroup boosted their target price on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $307.00.

Atlassian Price Performance

TEAM opened at $306.78 on Friday. Atlassian has a 1-year low of $135.29 and a 1-year high of $324.37. The company has a 50-day moving average of $260.51 and a 200-day moving average of $208.44. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $79.90 billion, a P/E ratio of -201.83 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Equities analysts expect that Atlassian will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $270.63, for a total value of $2,150,967.24. Following the sale, the director now directly owns 333,816 shares in the company, valued at $90,340,624.08. The trade was a 2.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares in the company, valued at $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,208 shares of company stock worth $63,572,404 in the last ninety days. 38.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlassian

Several large investors have recently added to or reduced their stakes in TEAM. GAMMA Investing LLC grew its holdings in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares in the last quarter. True Wealth Design LLC grew its stake in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares in the last quarter. Avion Wealth increased its holdings in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Atlassian in the third quarter worth approximately $48,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of Atlassian during the fourth quarter worth approximately $56,000. 94.45% of the stock is owned by institutional investors and hedge funds.

About Atlassian

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.