Atlassian (NASDAQ:TEAM) Coverage Initiated by Analysts at BNP Paribas Exane

Investment analysts at BNP Paribas Exane started coverage on shares of Atlassian (NASDAQ:TEAM) in a report released on Monday. The firm set an “outperform” rating and a $95.00 price target on the technology company’s stock. BNP Paribas Exane’s price target indicates a potential upside of 26.31% from the stock’s current price.

TEAM has been the topic of several other reports. Wolfe Research reissued an “outperform” rating and issued a $100.00 price target on shares of Atlassian in a research note on Thursday. KeyCorp decreased their target price on shares of Atlassian from $210.00 to $170.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Oppenheimer dropped their price target on Atlassian from $275.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. Guggenheim reduced their price objective on Atlassian from $225.00 to $190.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Finally, Zacks Research cut Atlassian from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Twenty-two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $181.78.

Atlassian Trading Up 2.5%

TEAM stock opened at $75.21 on Monday. Atlassian has a 12-month low of $67.85 and a 12-month high of $242.00. The business’s 50-day moving average is $104.18 and its 200 day moving average is $140.74. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. The stock has a market cap of $19.84 billion, a price-to-earnings ratio of -104.46 and a beta of 0.94.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 5th. The technology company reported $1.22 EPS for the quarter, beating 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 firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the company earned $0.96 EPS. The firm’s revenue was up 23.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Atlassian will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $162.68, for a total transaction of $1,246,942.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Monday, December 29th. The shares were sold at an average price of $163.66, for a total value of $1,254,453.90. Following the completion of the sale, the director owned 7,665 shares in the company, valued at $1,254,453.90. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 327,943 shares of company stock worth $45,665,135 over the last quarter. 36.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TEAM. Vanguard Group Inc. boosted its stake in Atlassian by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company’s stock worth $3,006,281,000 after buying an additional 61,706 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Atlassian by 3.9% in the 4th quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock worth $1,367,132,000 after acquiring an additional 316,276 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Atlassian by 291.4% during the 4th quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock worth $1,256,535,000 after purchasing an additional 5,769,788 shares during the period. Morgan Stanley boosted its position in shares of Atlassian by 52.4% during the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after purchasing an additional 1,657,309 shares during the period. Finally, State Street Corp increased its holdings in Atlassian by 3.3% in the 4th quarter. State Street Corp now owns 3,995,100 shares of the technology company’s stock valued at $647,766,000 after purchasing an additional 127,105 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

About Atlassian

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.