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

Shares of Atlassian Co. (NASDAQ:TEAM) have been given a consensus recommendation of “Moderate Buy” by the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $226.75.

TEAM has been the topic of several research reports. KeyCorp initiated coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Wells Fargo & Company upped their price objective on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. The Goldman Sachs Group upped their target price on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Citigroup upped their target price on shares of Atlassian from $215.00 to $280.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Finally, StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $238.95, for a total value of $1,969,186.95. Following the completion of the sale, the chief executive officer now owns 403,809 shares in the company, valued at approximately $96,490,160.55. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $238.95, for a total transaction of $1,969,186.95. Following the completion of the transaction, the chief executive officer now owns 403,809 shares in the company, valued at approximately $96,490,160.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $201.05, for a total value of $305,596.00. Following the transaction, the president now owns 163,370 shares of the company’s stock, valued at approximately $32,845,538.50. The disclosure for this sale can be found here. Insiders sold a total of 293,159 shares of company stock worth $62,296,500 in the last quarter. Corporate insiders own 40.48% of the company’s stock.

Hedge Funds Weigh In On Atlassian

Large investors have recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Atlassian during the 3rd quarter worth about $26,000. Meeder Asset Management Inc. boosted its stake in shares of Atlassian by 151.5% during the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after buying an additional 147 shares during the last quarter. Tyler Stone Wealth Management acquired a new position in shares of Atlassian during the 2nd quarter worth about $34,000. Quarry LP acquired a new position in shares of Atlassian during the 2nd quarter worth about $44,000. Finally, Harbour Investments Inc. boosted its stake in shares of Atlassian by 148.8% during the 4th quarter. Harbour Investments Inc. now owns 199 shares of the technology company’s stock worth $47,000 after buying an additional 119 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Atlassian Stock Up 4.8 %

Shares of TEAM opened at $214.65 on Friday. The company has a market capitalization of $55.68 billion, a P/E ratio of -144.06 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. Atlassian has a one year low of $128.02 and a one year high of $258.69. The business’s 50 day simple moving average is $204.04 and its 200-day simple moving average is $206.58.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, sell-side analysts predict that Atlassian will post -0.4 EPS for the current fiscal year.

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.