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

Shares of Atlassian Co. (NASDAQ:TEAM) have been assigned a consensus rating of “Moderate Buy” from the twenty-two analysts that are covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $244.21.

A number of research firms recently weighed in on TEAM. Oppenheimer boosted their price target on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Morgan Stanley boosted their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. BMO Capital Markets boosted their price target on shares of Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Barclays lowered their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Finally, The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their target price for the company from $200.00 to $230.00 in a report on Friday, August 2nd.

Insider Transactions at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the sale, the chief executive officer now directly owns 182,804 shares of the company’s stock, valued at $30,127,927.24. This represents a 4.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Gene Liu sold 1,024 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $230,860.80. Following the sale, the chief accounting officer now directly owns 59,168 shares in the company, valued at approximately $13,339,425.60. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 257,694 shares of company stock worth $49,012,774. 38.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlassian

Several large investors have recently added to or reduced their stakes in the business. Financial Advocates Investment Management increased its position in shares of Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after purchasing an additional 62 shares during the last quarter. Legacy Wealth Asset Management LLC increased its position in shares of Atlassian by 2.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after purchasing an additional 70 shares during the last quarter. SkyView Investment Advisors LLC increased its position in shares of Atlassian by 2.1% in the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after purchasing an additional 80 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares during the last quarter. Finally, Commerce Bank increased its position in shares of Atlassian by 1.8% in the 3rd quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock valued at $789,000 after purchasing an additional 90 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Up 2.6 %

TEAM stock opened at $260.58 on Friday. The stock has a market capitalization of $67.86 billion, a P/E ratio of -171.43 and a beta of 0.71. The firm has a 50-day simple moving average of $194.53 and a 200-day simple moving average of $176.48. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian has a 52 week low of $135.29 and a 52 week high of $262.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) earnings per share. Equities analysts forecast that Atlassian will post -0.56 earnings per share 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.