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

Atlassian Co. (NASDAQ:TEAM) has earned an average rating of “Moderate Buy” from the twenty-three analysts that are presently covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $258.00.

TEAM has been the subject of several recent analyst reports. Morgan Stanley upped their price objective 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. Scotiabank upped their price objective on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Mizuho upped their price objective on shares of Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Piper Sandler boosted their target price on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, KeyCorp boosted their target price on Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th.

Atlassian Trading Up 2.4 %

Shares of Atlassian stock opened at $257.26 on Wednesday. The firm has a 50-day moving average of $237.54 and a 200-day moving average of $190.54. The stock has a market cap of $67.00 billion, a PE ratio of -169.25 and a beta of 0.80. Atlassian has a 52-week low of $135.29 and a 52-week high of $287.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Atlassian’s revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Atlassian will post -0.54 EPS for the current year.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $188.79, for a total transaction of $143,480.40. Following the completion of the sale, the president now owns 228,996 shares of the company’s stock, valued at approximately $43,232,154.84. This represents a 0.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 1,024 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were 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 of the company’s stock, valued at $13,339,425.60. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 277,350 shares of company stock valued at $60,938,938 over the last quarter. 38.55% of the stock is owned by company insiders.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in Atlassian during the 3rd quarter valued at approximately $606,000. Sequoia Financial Advisors LLC increased its position in Atlassian by 37.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares during the period. Paloma Partners Management Co bought a new position in shares of Atlassian during the 3rd quarter worth approximately $1,588,000. Impax Asset Management Group plc grew its position in shares of Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares during the period. Finally, Parnassus Investments LLC grew its position in shares of Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after buying an additional 245,286 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.