Atlassian (NASDAQ:TEAM) Stock Rating Lowered by StockNews.com

Atlassian (NASDAQ:TEAM) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Other equities analysts also recently issued reports about the company. UBS Group raised their price objective on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Mizuho raised their price objective on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Macquarie raised their price objective on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Robert W. Baird raised their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group raised their target price on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Price Performance

Atlassian stock opened at $313.10 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $82.03 billion, a PE ratio of -233.65 and a beta of 0.87. Atlassian has a 12 month low of $135.29 and a 12 month high of $326.00. The stock has a 50-day moving average price of $269.40 and a two-hundred day moving average price of $216.86.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Analysts expect that Atlassian will post -0.34 EPS for the current year.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 1,659 shares of Atlassian stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total transaction of $407,798.79. Following the sale, the president now directly owns 213,511 shares in the company, valued at approximately $52,483,138.91. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Monday, January 13th. The stock was sold at an average price of $236.89, for a total value of $1,882,801.72. Following the sale, the chief executive officer now owns 421,244 shares in the company, valued at $99,788,491.16. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 285,224 shares of company stock valued at $76,899,985 over the last 90 days. Insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

A number of hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. lifted its holdings in Atlassian by 0.9% during the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after acquiring an additional 78,454 shares during the period. JPMorgan Chase & Co. lifted its holdings in Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after acquiring an additional 1,806,042 shares during the period. State Street Corp lifted its holdings in Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after acquiring an additional 8,957 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Atlassian during the fourth quarter worth $687,486,000. Finally, Invesco Ltd. raised its stake in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after buying an additional 1,777,179 shares during the period. 94.45% of the stock is currently owned by institutional investors.

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.