Atlassian Corporation PLC (NASDAQ:TEAM) Short Interest Update

Atlassian Corporation PLC (NASDAQ:TEAM) was the target of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 9,508,511 shares, an increase of 26.9% from the January 15th total of 7,492,123 shares. Currently, 5.7% of the company’s shares are sold short. Based on an average daily trading volume, of 5,776,085 shares, the short-interest ratio is presently 1.6 days. Based on an average daily trading volume, of 5,776,085 shares, the short-interest ratio is presently 1.6 days. Currently, 5.7% of the company’s shares are sold short.

Analysts Set New Price Targets

TEAM has been the subject of several research analyst reports. Mizuho reduced their price target on shares of Atlassian from $225.00 to $205.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Sanford C. Bernstein upped their target price on shares of Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Guggenheim dropped their price target on Atlassian from $225.00 to $190.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Barclays decreased their price objective on Atlassian from $215.00 to $165.00 and set an “overweight” rating for the company in a report on Friday, February 6th. Finally, Macquarie Infrastructure cut their target price on Atlassian from $250.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Twenty analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $189.32.

Atlassian Stock Performance

NASDAQ:TEAM traded down $2.23 on Tuesday, hitting $82.15. The company’s stock had a trading volume of 8,767,620 shares, compared to its average volume of 6,724,101. Atlassian has a one year low of $80.40 and a one year high of $316.99. The stock has a fifty day moving average of $134.67 and a two-hundred day moving average of $152.46. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, February 5th. The technology company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.12 by $0.10. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the company posted $0.96 EPS. The firm’s revenue for the quarter was up 23.3% compared to the same quarter last year. Research analysts expect that Atlassian will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $148.29, for a total transaction of $1,136,642.85. Following the completion of the sale, the director owned 176,295 shares in the company, valued at approximately $26,142,785.55. The trade was a 4.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $148.29, for a total value of $1,136,642.85. Following the sale, the chief executive officer directly owned 176,295 shares of the company’s stock, valued at approximately $26,142,785.55. This trade represents a 4.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 497,847 shares of company stock worth $72,254,722 over the last 90 days. 36.66% of the stock is currently owned by company insiders.

Institutional Trading of Atlassian

Several hedge funds and other institutional investors have recently modified their holdings of TEAM. Physician Wealth Advisors Inc. grew its stake in Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Atlassian by 12.0% in the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock worth $100,000 after purchasing an additional 66 shares during the last quarter. Snowden Capital Advisors LLC lifted its holdings in shares of Atlassian by 1.6% during the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after purchasing an additional 71 shares during the period. Financial Perspectives Inc boosted its position in Atlassian by 11.7% in the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock valued at $116,000 after buying an additional 75 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in Atlassian by 0.3% in the 2nd quarter. Cetera Investment Advisers now owns 24,808 shares of the technology company’s stock worth $5,038,000 after buying an additional 79 shares during the period. Institutional investors own 94.45% of the company’s stock.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.