Atlassian Co. (NASDAQ:TEAM) Receives $226.75 Average PT from Analysts

Atlassian Co. (NASDAQ:TEAM) has received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $224.25.

A number of analysts recently issued reports on the company. Mizuho reduced their price objective on Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Monday. Citigroup dropped their target price on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, April 12th. KeyCorp initiated coverage on Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Finally, StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th.

Insider Buying and Selling at Atlassian

In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $245.64, for a total transaction of $2,024,319.24. Following the transaction, the chief executive officer now directly owns 370,845 shares in the company, valued at $91,094,365.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the sale, the chief accounting officer now directly owns 47,066 shares in the company, valued at $10,018,939.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $245.64, for a total value of $2,024,319.24. Following the sale, the chief executive officer now directly owns 370,845 shares of the company’s stock, valued at $91,094,365.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 298,930 shares of company stock worth $62,707,908. 40.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlassian

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after buying an additional 504,181 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Atlassian by 3.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after acquiring an additional 326,673 shares during the last quarter. WCM Investment Management LLC raised its stake in shares of Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after purchasing an additional 249,017 shares in the last quarter. Baillie Gifford & Co. raised its position in Atlassian by 20.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after acquiring an additional 1,511,318 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Atlassian by 26.0% in the 1st quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock valued at $1,294,640,000 after purchasing an additional 1,561,804 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Stock Down 0.7 %

TEAM stock opened at $193.61 on Friday. The firm has a 50-day moving average of $202.37 and a two-hundred day moving average of $206.57. Atlassian has a one year low of $128.02 and a one year high of $258.69. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. On average, research analysts expect that Atlassian will post -0.4 EPS 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.