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

Shares of Atlassian Co. (NASDAQ:TEAM) have been given a consensus rating of “Moderate Buy” by the twenty-four research firms that are presently covering the firm, Marketbeat.com reports. Eight investment 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 analysts that have issued ratings on the stock in the last year is $319.71.

Several analysts have recently commented on TEAM shares. Cantor Fitzgerald raised their price target on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Morgan Stanley raised their target price on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Macquarie upped their price target on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Piper Sandler increased their price target on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, KeyCorp boosted their price objective on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total transaction of $526,962.32. Following the transaction, the president now directly owns 199,934 shares in the company, valued at approximately $61,147,814.56. This represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $269.35, for a total value of $2,140,793.80. Following the completion of the sale, the director now directly owns 111,272 shares in the company, valued at approximately $29,971,113.20. The trade was a 6.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 272,501 shares of company stock worth $74,977,422. 38.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA purchased a new position in Atlassian during the fourth quarter worth approximately $687,486,000. Voya Investment Management LLC increased its holdings in shares of Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock worth $528,693,000 after buying an additional 2,160,810 shares during the last quarter. JPMorgan Chase & Co. raised its position 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 worth $1,042,737,000 after buying an additional 1,806,042 shares during the period. Invesco Ltd. boosted its holdings in Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after acquiring an additional 1,777,179 shares during the last quarter. Finally, Durable Capital Partners LP boosted its holdings in Atlassian by 499.7% in the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company’s stock valued at $383,456,000 after acquiring an additional 1,312,820 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Performance

Shares of TEAM opened at $238.86 on Monday. The stock has a market capitalization of $62.58 billion, a P/E ratio of -178.25 and a beta of 0.91. 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 1 year low of $135.29 and a 1 year high of $326.00. The company’s fifty day moving average is $276.11 and its two-hundred day moving average is $232.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, sell-side analysts predict that Atlassian will post -0.34 earnings per share for the current year.

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.