Atlassian (NASDAQ:TEAM) Stock Rating Upgraded by StockNews.com

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

TEAM has been the subject of several other reports. KeyCorp raised their price objective on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group lifted their price target on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $255.00 to $292.00 in a report on Friday, January 10th. Jefferies Financial Group lifted their target price on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Oppenheimer upped their price target on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $218.44 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $57.23 billion, a P/E ratio of -163.01 and a beta of 0.91. Atlassian has a 12 month low of $135.29 and a 12 month high of $326.00. The stock has a 50 day moving average of $273.44 and a 200-day moving average of $233.71.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data 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 net margin of 7.22% and a negative return on equity of 17.37%. As a group, equities research analysts predict that Atlassian will post -0.34 EPS for the current year.

Insider Buying and Selling

In related news, CAO Gene Liu sold 568 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $312.08, for a total value of $177,261.44. Following the completion of the transaction, the chief accounting officer now owns 52,142 shares of the company’s stock, valued at $16,272,475.36. This represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now directly owns 211,991 shares in the company, valued at approximately $54,006,827.16. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 272,501 shares of company stock worth $74,167,124 in the last ninety days. 38.55% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlassian

Several large investors have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Atlassian during the 3rd quarter worth approximately $606,000. Fulton Bank N.A. acquired a new position in shares of Atlassian during the fourth quarter worth $447,000. Paloma Partners Management Co bought a new stake in shares of Atlassian in the third quarter worth $1,588,000. Allworth Financial LP increased its holdings in Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after purchasing an additional 47 shares during the period. Finally, Parnassus Investments LLC raised its position in Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

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.