Atlassian (NASDAQ:TEAM) Upgraded at StockNews.com

StockNews.com upgraded shares of Atlassian (NASDAQ:TEAM) from a hold rating to a buy rating in a research report report published on Wednesday.

A number of other equities analysts also recently weighed in on the stock. Citigroup boosted their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Morgan Stanley boosted their price objective on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Macquarie increased their price objective on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Finally, UBS Group upped their price target on Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Stock Up 5.0 %

NASDAQ TEAM opened at $218.44 on Wednesday. The stock’s 50 day simple moving average is $273.44 and its 200 day simple moving average is $233.71. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian has a one year low of $135.29 and a one year high of $326.00. The firm has a market cap of $57.23 billion, a PE ratio of -163.01 and a beta of 0.91.

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

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $218.05, for a total transaction of $1,733,061.40. Following the completion of the transaction, the director now owns 119,220 shares of the company’s stock, valued at $25,995,921. This represents a 6.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the sale, the president now owns 211,991 shares in the company, valued at $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 272,501 shares of company stock valued at $74,167,124. Company insiders own 38.55% of the company’s stock.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in Atlassian by 72.9% during the fourth 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 last quarter. State Street Corp boosted its holdings in shares of Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after buying an additional 8,957 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Atlassian in the fourth quarter valued at $687,486,000. Invesco Ltd. increased its holdings in Atlassian by 265.9% during the fourth 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 last quarter. Finally, FMR LLC raised its position in Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after acquiring an additional 150,237 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.