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

Atlassian Co. (NASDAQ:TEAM) has been given an average rating of “Moderate Buy” by the twenty analysts that are currently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $217.69.

Several analysts recently issued reports on TEAM shares. Capital One Financial raised Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a research note on Thursday, July 11th. TD Cowen cut their price target on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a report on Friday, April 26th. Wells Fargo & Company cut their price target on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Mizuho dropped their target price on Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Finally, The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd.

Insider Transactions at Atlassian

In other news, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $170.05, for a total transaction of $1,401,382.05. Following the transaction, the chief executive officer now directly owns 185,148 shares in the company, valued at approximately $31,484,417.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the transaction, the chief technology officer now owns 128,957 shares in the company, valued at $18,838,038.56. The disclosure for this sale can be found here. In the last three months, insiders sold 257,227 shares of company stock valued at $42,942,989. Corporate insiders own 40.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. International Assets Investment Management LLC purchased a new stake in shares of Atlassian in the fourth quarter worth about $13,805,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Atlassian by 2,826.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 27,652 shares of the technology company’s stock worth $6,577,000 after buying an additional 26,707 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Atlassian by 12.8% in the fourth quarter. Sequoia Financial Advisors LLC now owns 1,364 shares of the technology company’s stock worth $324,000 after buying an additional 155 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Atlassian by 31.1% in the fourth quarter. Cerity Partners LLC now owns 3,965 shares of the technology company’s stock worth $943,000 after buying an additional 941 shares during the last quarter. Finally, Perigon Wealth Management LLC purchased a new stake in shares of Atlassian in the fourth quarter worth about $214,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Up 1.3 %

NASDAQ TEAM opened at $158.34 on Thursday. The stock’s 50-day moving average price is $165.50 and its 200-day moving average price is $182.47. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a market capitalization of $41.22 billion, a P/E ratio of -251.33 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 18.13% and a negative net margin of 6.89%. The firm’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.21) EPS. On average, equities research analysts predict that Atlassian will post -0.57 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.