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

Shares of Atlassian Co. (NASDAQ:TEAM) have received an average recommendation of “Moderate Buy” from the twenty-five research firms that are covering the firm, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $310.18.

TEAM has been the topic of a number of research reports. Oppenheimer boosted their target price on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Jefferies Financial Group decreased their price objective on Atlassian from $400.00 to $330.00 and set a “buy” rating for the company in a report on Monday. Scotiabank lifted their target price on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Raymond James reissued an “outperform” rating and issued a $330.00 price target (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, KeyCorp lifted their price objective on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st.

Atlassian Stock Up 2.0 %

Shares of TEAM opened at $216.41 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian has a 52 week low of $135.29 and a 52 week high of $326.00. The stock has a market capitalization of $56.70 billion, a price-to-earnings ratio of -161.50 and a beta of 0.91. The stock has a fifty day moving average of $267.68 and a 200-day moving average of $239.81.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) 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, sell-side analysts anticipate that Atlassian will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 568 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the sale, the chief accounting officer now owns 52,142 shares in the company, valued at $16,272,475.36. This represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, March 31st. The shares were sold at an average price of $209.73, for a total value of $1,666,934.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,981 shares of company stock worth $72,069,956. Company insiders own 38.55% of the company’s stock.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently modified their holdings of TEAM. Thrivent Financial for Lutherans grew its position in shares of Atlassian by 168.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 10,270 shares of the technology company’s stock valued at $1,631,000 after purchasing an additional 6,440 shares in the last quarter. Cerity Partners LLC grew its position in Atlassian by 169.0% during the third quarter. Cerity Partners LLC now owns 18,017 shares of the technology company’s stock worth $2,861,000 after buying an additional 11,320 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after buying an additional 82 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Atlassian by 17.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 30,353 shares of the technology company’s stock worth $4,824,000 after acquiring an additional 4,479 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Atlassian by 7.4% in the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after acquiring an additional 150,237 shares in the last quarter. 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.