Atlassian Co. (NASDAQ:TEAM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Atlassian Co. (NASDAQ:TEAM) have been given an average rating of “Moderate Buy” by the twenty-five analysts that are currently covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $316.77.

TEAM has been the topic of a number of research analyst reports. Cantor Fitzgerald upped their target price on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. The Goldman Sachs Group upped their price objective on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Morgan Stanley lifted their target price on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company increased their price target on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Mizuho lifted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st.

Atlassian Stock Performance

TEAM opened at $222.64 on Friday. The business’s 50-day simple moving average is $269.96 and its 200 day simple moving average is $237.69. Atlassian has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $58.33 billion, a PE ratio of -166.15 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last announced 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%. As a group, sell-side analysts expect that Atlassian will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $246.97, for a total value of $1,962,917.56. Following the transaction, the chief executive officer now directly owns 7,948 shares of the company’s stock, valued at $1,962,917.56. This trade represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Anutthara Bharadwaj sold 1,723 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the transaction, the president now owns 199,934 shares of the company’s stock, valued at approximately $61,147,814.56. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,033 shares of company stock worth $70,644,164. Company insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Several large investors have recently bought and sold shares of TEAM. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian in the fourth quarter worth about $27,000. Colonial Trust Co SC increased its position in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after purchasing an additional 69 shares in the last quarter. True Wealth Design LLC lifted its stake in Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. Summit Securities Group LLC bought a new position in Atlassian in the 4th quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian during the fourth quarter worth $39,000. 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.