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

Shares of Atlassian Co. (NASDAQ:TEAM) have been given an average recommendation of “Moderate Buy” by the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $228.81.

TEAM has been the subject of a number of recent analyst reports. Robert W. Baird dropped their price target on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Wells Fargo & Company decreased their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Morgan Stanley decreased their price objective on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a report on Wednesday, July 17th. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Finally, TD Cowen decreased their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a report on Friday, April 26th.

Atlassian Price Performance

TEAM stock opened at $178.22 on Friday. Atlassian has a 12 month low of $152.34 and a 12 month high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $170.24 and a 200 day moving average price of $194.60. The stock has a market cap of $46.39 billion, a PE ratio of -282.89 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned ($0.40) EPS. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. Equities research analysts anticipate that Atlassian will post -0.22 earnings per share for the current year.

Insider Activity

In related news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $177.14, for a total transaction of $1,459,810.74. Following the completion of the transaction, the chief executive officer now owns 341,727 shares in the company, valued at approximately $60,533,520.78. The transaction was disclosed in a document filed 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 that occurred on Monday, April 29th. The shares were sold at an average price of $177.14, for a total transaction of $1,459,810.74. Following the completion of the transaction, the chief executive officer now owns 341,727 shares in the company, valued at approximately $60,533,520.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 4,856 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $184.26, for a total transaction of $894,766.56. Following the transaction, the president now owns 156,994 shares of the company’s stock, valued at approximately $28,927,714.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,164 shares of company stock worth $47,848,092. 40.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Hollencrest Capital Management raised its stake in shares of Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after acquiring an additional 119 shares in the last quarter. Trust Co. of Vermont grew its position in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Atlassian during the 1st quarter worth approximately $40,000. Crewe Advisors LLC purchased a new stake in Atlassian during the 1st quarter worth approximately $43,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after purchasing an additional 271 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

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.