Atlassian’s (TEAM) “Equal Weight” Rating Reiterated at Stephens

Atlassian (NASDAQ:TEAM)‘s stock had its “equal weight” rating reaffirmed by research analysts at Stephens in a research note issued to investors on Monday,Benzinga reports. They presently have a $255.00 price objective on the technology company’s stock. Stephens’ target price points to a potential upside of 28.55% from the stock’s previous close.

A number of other analysts also recently commented on TEAM. Mizuho increased their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Barclays increased their price target on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. The Goldman Sachs Group boosted their price objective on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Robert W. Baird raised Atlassian from a “neutral” rating to an “outperform” rating and cut their target price for the stock from $320.00 to $255.00 in a research note on Monday. Finally, Citigroup lifted their price target on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Seven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $300.00.

Atlassian Price Performance

NASDAQ:TEAM opened at $198.37 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian has a 52 week low of $135.29 and a 52 week high of $326.00. The stock’s 50-day moving average price is $251.13 and its 200-day moving average price is $241.80. The stock has a market capitalization of $51.97 billion, a PE ratio of -148.04 and a beta of 1.07.

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

Insider Activity at Atlassian

In other news, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the sale, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $251.20, for a total value of $1,996,537.60. Following the sale, the chief executive officer now owns 405,348 shares of the company’s stock, valued at approximately $101,823,417.60. The trade was a 1.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,085 shares of company stock valued at $66,725,482 over the last 90 days. 38.55% of the stock is owned by corporate insiders.

Institutional Trading of Atlassian

Several institutional investors have recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian in the fourth quarter valued at $27,000. Colonial Trust Co SC boosted its position in shares of Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after purchasing an additional 69 shares during the period. Summit Securities Group LLC acquired a new position in Atlassian during the fourth quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $39,000. Finally, Avion Wealth grew its position in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after acquiring an additional 157 shares during the last quarter. 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.