Atlassian (NASDAQ:TEAM) Now Covered by Analysts at Macquarie

Macquarie initiated coverage on shares of Atlassian (NASDAQ:TEAM) in a research note issued to investors on Thursday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $290.00 price objective on the technology company’s stock.

Other analysts also recently issued research reports about the company. Oppenheimer boosted their price objective on Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets upped their price target on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Truist Financial lifted their price objective on shares of Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Raymond James boosted their target price on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Scotiabank raised their target price on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.25.

Atlassian Stock Performance

Atlassian stock opened at $279.18 on Thursday. Atlassian has a 1 year low of $135.29 and a 1 year high of $287.97. The firm’s 50 day moving average price is $226.93 and its two-hundred day moving average price is $185.86. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company posted ($0.07) EPS. Sell-side analysts forecast that Atlassian will post -0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the transaction, the president now directly owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. This trade represents a 0.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 111,272 shares of the company’s stock, valued at $29,971,113.20. The trade was a 6.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 268,642 shares of company stock valued at $56,073,616 over the last ninety days. Corporate insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently modified their holdings of the company. Oddo BHF Asset Management Sas bought a new position in Atlassian in the 3rd quarter worth $11,438,000. Tri Ri Asset Management Corp bought a new position in shares of Atlassian in the third quarter worth about $2,584,000. Synovus Financial Corp lifted its position in shares of Atlassian by 26.4% during the 3rd quarter. Synovus Financial Corp now owns 19,962 shares of the technology company’s stock worth $3,170,000 after purchasing an additional 4,173 shares during the last quarter. Tidal Investments LLC boosted its stake in Atlassian by 143.2% during the 3rd quarter. Tidal Investments LLC now owns 12,605 shares of the technology company’s stock valued at $2,002,000 after purchasing an additional 7,422 shares during the period. Finally, Wilmington Savings Fund Society FSB grew its holdings in Atlassian by 59.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,901 shares of the technology company’s stock valued at $461,000 after buying an additional 1,081 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.