Atlassian (NASDAQ:TEAM) Now Covered by Stephens

Stephens initiated coverage on shares of Atlassian (NASDAQ:TEAM) in a research report report published on Wednesday, MarketBeat Ratings reports. The firm issued an equal weight rating and a $255.00 target price on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their price target for the company from $255.00 to $292.00 in a report on Friday, January 10th. Jefferies Financial Group increased their target price on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Macquarie lifted their price target on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. UBS Group increased their price objective on Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Mizuho lifted their target price on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $316.77.

Atlassian Price Performance

NASDAQ TEAM opened at $229.86 on Wednesday. Atlassian has a 12 month low of $135.29 and a 12 month high of $326.00. The firm has a market capitalization of $60.22 billion, a PE ratio of -171.54 and a beta of 0.91. The company’s 50 day simple moving average is $271.91 and its 200 day simple moving average is $235.42. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

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

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total value of $1,723,921.20. Following the completion of the sale, the chief executive officer now owns 71,532 shares of the company’s stock, valued at approximately $15,515,290.80. The trade was a 10.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joseph Leo Binz sold 2,587 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.09, for a total transaction of $807,376.83. Following the transaction, the chief financial officer now directly owns 169,342 shares in the company, valued at approximately $52,849,944.78. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 264,553 shares of company stock valued at $71,627,261. 38.55% of the stock is owned by insiders.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after buying an additional 1,806,042 shares during the last quarter. State Street Corp lifted its holdings in Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after purchasing an additional 8,957 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Atlassian during the fourth quarter worth approximately $687,486,000. Invesco Ltd. grew its holdings in Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after purchasing an additional 1,777,179 shares during the last quarter. Finally, FMR LLC raised its position in shares of Atlassian by 7.4% in the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after purchasing an additional 150,237 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.