William Blair Reiterates “Outperform” Rating for Atlassian (NASDAQ:TEAM)

William Blair reiterated their outperform rating on shares of Atlassian (NASDAQ:TEAM) in a research report released on Friday,RTT News reports.

TEAM has been the topic of a number of other research reports. Cantor Fitzgerald raised their price objective on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research report on Friday. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their price target for the company from $255.00 to $292.00 in a report on Friday, January 10th. Citigroup boosted their price objective on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Mizuho raised their target price on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Wells Fargo & Company lifted their price target on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $307.00.

Atlassian Trading Up 14.9 %

NASDAQ TEAM opened at $306.78 on Friday. Atlassian has a one year low of $135.29 and a one year high of $324.37. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company’s 50-day simple moving average is $260.51 and its two-hundred day simple moving average is $208.06.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Analysts forecast that Atlassian will post -0.55 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the transaction, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36. Following the completion of the sale, the director now owns 309,972 shares of the company’s stock, valued at $67,905,566.04. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 257,156 shares of company stock valued at $65,313,573. 38.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TEAM. GAMMA Investing LLC raised its position in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC raised its position in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the last quarter. Avion Wealth lifted its stake in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in Atlassian in the 3rd quarter worth about $48,000. Finally, Kestra Investment Management LLC purchased a new stake in Atlassian during the 4th quarter worth approximately $56,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

About Atlassian

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.