Atlassian (NASDAQ:TEAM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Atlassian (NASDAQ:TEAM) from a hold rating to a buy rating in a report released on Sunday.

Several other research firms have also recently commented on TEAM. Cantor Fitzgerald raised Atlassian from a “neutral” rating to an “overweight” rating and cut their price target for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Baird R W upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Robert W. Baird upgraded Atlassian from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $320.00 to $255.00 in a research note on Monday, April 14th. KeyCorp lowered their price objective on Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Finally, Stephens lowered their price objective on Atlassian from $255.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $282.19.

Atlassian Trading Up 4.1%

Atlassian stock opened at $200.67 on Friday. The business has a 50 day moving average price of $210.03 and a two-hundred day moving average price of $239.10. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a market cap of $52.68 billion, a price-to-earnings ratio of -120.89 and a beta of 0.96. Atlassian has a 12 month low of $135.29 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 EPS. As a group, equities analysts forecast that Atlassian will post -0.34 EPS for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CAO Gene Liu sold 541 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total value of $122,000.91. Following the transaction, the chief accounting officer now directly owns 51,481 shares in the company, valued at approximately $11,609,480.31. This trade represents a 1.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $229.59, for a total value of $1,824,781.32. Following the completion of the transaction, the chief executive officer now owns 222,544 shares in the company, valued at $51,093,876.96. The trade was a 3.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 381,287 shares of company stock worth $79,609,626. Insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TEAM. Massachusetts Financial Services Co. MA acquired a new position in shares of Atlassian in the 4th quarter valued at $687,486,000. Voya Investment Management LLC lifted its stake in shares of Atlassian by 17,941.0% in the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock valued at $528,693,000 after purchasing an additional 2,160,810 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Atlassian by 72.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the period. Invesco Ltd. raised its stake in Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock worth $595,171,000 after buying an additional 1,777,179 shares during the period. Finally, Nuveen LLC acquired a new stake in Atlassian during the 1st quarter worth $327,665,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.