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

Atlassian Co. (NASDAQ:TEAM) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $243.16.

A number of equities analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a research note on Thursday, July 11th. JMP Securities upgraded Atlassian to a “hold” rating in a research note on Friday, August 2nd. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Barclays dropped their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th.

Atlassian Trading Down 2.4 %

NASDAQ TEAM opened at $218.96 on Tuesday. The company’s 50 day moving average is $174.38 and its 200-day moving average is $171.31. Atlassian has a 12-month low of $135.29 and a 12-month high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its 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. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company earned ($0.07) EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities research analysts predict that Atlassian will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 4,560 shares of the 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 $1,028,052.00. Following the completion of the transaction, the president now directly owns 224,436 shares of the company’s stock, valued at approximately $50,599,096.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, President Anutthara Bharadwaj sold 4,560 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the transaction, the president now directly owns 224,436 shares in the company, valued at approximately $50,599,096.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the transaction, the chief executive officer now directly owns 294,076 shares in the company, valued at $41,329,441.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 237,269 shares of company stock valued at $41,382,072 over the last quarter. 38.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Asset Dedication LLC raised its stake in Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Hollencrest Capital Management grew its holdings in Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares during the last quarter. Trust Co. of Vermont increased its position in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares during the period. Rothschild Investment LLC bought a new position in shares of Atlassian during the 2nd quarter worth about $36,000. Finally, GAMMA Investing LLC raised its holdings in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares in the last quarter. Institutional investors own 93.03% 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.