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

Atlassian Co. (NASDAQ:TEAM) has been given a consensus recommendation of “Moderate Buy” by the twenty-two ratings firms that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $243.16.

Several brokerages have commented on TEAM. Mizuho raised their price target on shares of Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Friday. Raymond James upped their price objective on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird lifted their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday. JMP Securities raised shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Finally, Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd.

Atlassian Stock Performance

TEAM stock opened at $218.96 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian has a 52-week low of $135.29 and a 52-week high of $258.69. The company has a fifty day moving average price of $174.38 and a 200-day moving average price of $171.31.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) earnings per share. As a group, equities research analysts forecast that Atlassian will post -0.58 EPS for the current year.

Insider Activity

In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the transaction, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the sale, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. This trade represents a 0.00 % 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, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $222.72, for a total transaction of $1,770,178.56. Following the completion of the sale, the chief executive officer now directly owns 317,920 shares of the company’s stock, valued at approximately $70,807,142.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 237,269 shares of company stock worth $41,382,072. Insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Hedge funds have recently added to or reduced their stakes in the business. First Trust Direct Indexing L.P. grew its stake in shares of Atlassian by 1.5% in the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after buying an additional 55 shares in the last quarter. Financial Advocates Investment Management lifted its position in shares of Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after acquiring an additional 62 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of Atlassian by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after purchasing an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC raised its stake in Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after purchasing an additional 70 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Atlassian by 0.4% during the first quarter. Daiwa Securities Group Inc. now owns 19,544 shares of the technology company’s stock worth $3,813,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 93.03% 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.