Atlassian (NASDAQ:TEAM) Receives Market Perform Rating from JMP Securities

Atlassian (NASDAQ:TEAM)‘s stock had its “market perform” rating restated by analysts at JMP Securities in a research report issued on Friday,Benzinga reports.

Several other research analysts have also commented on the company. Mizuho lifted their price target on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday. Robert W. Baird lifted their target price on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Canaccord Genuity Group increased their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. KeyCorp lifted their price target on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday. Finally, William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $301.05.

Atlassian Price Performance

Shares of NASDAQ TEAM traded up $42.39 during mid-day trading on Friday, reaching $309.34. The company’s stock had a trading volume of 4,829,578 shares, compared to its average volume of 2,004,641. The stock has a market capitalization of $80.56 billion, a P/E ratio of -203.70 and a beta of 0.83. Atlassian has a 1-year low of $135.29 and a 1-year high of $324.37. The stock has a 50-day moving average of $259.32 and a two-hundred day moving average of $206.76. 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 issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. On average, equities research analysts anticipate that Atlassian will post -0.55 EPS for the current fiscal year.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 1,659 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total value of $407,798.79. Following the completion of the sale, the president now directly owns 213,511 shares of the company’s stock, valued at $52,483,138.91. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the sale, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. This trade represents a 3.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 257,156 shares of company stock valued at $65,313,573. Insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Large investors have recently made changes to their positions in the company. Point72 Asset Management L.P. lifted its stake in Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after buying an additional 617,566 shares during the last quarter. Two Sigma Advisers LP raised its position in Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in Atlassian during the 3rd quarter worth $57,149,000. Parnassus Investments LLC increased its stake in Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after purchasing an additional 245,286 shares during the period. Finally, PointState Capital LP purchased a new stake in shares of Atlassian in the third quarter valued at about $30,566,000. 94.45% of the stock is owned by institutional investors and hedge funds.

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.