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

Shares of Atlassian Co. (NASDAQ:TEAM) have been assigned an average recommendation of “Moderate Buy” from the twenty-two brokerages that are presently covering the company, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $244.21.

TEAM has been the subject of a number of recent research reports. Piper Sandler lifted their price objective on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Mizuho upped their price objective on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Truist Financial increased their price objective on Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, KeyCorp upgraded shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price on the stock in a research note on Friday, November 1st.

Atlassian Trading Up 0.1 %

TEAM opened at $262.46 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market cap of $68.35 billion, a PE ratio of -172.67 and a beta of 0.71. The business has a 50 day moving average of $202.56 and a 200-day moving average of $178.71. Atlassian has a 52 week low of $135.29 and a 52 week high of $269.40.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the company posted ($0.07) EPS. Atlassian’s revenue was up 21.5% on a year-over-year basis. Equities research analysts predict that Atlassian will post -0.54 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $261.73, for a total transaction of $2,080,230.04. Following the completion of the transaction, the chief executive officer now directly owns 174,856 shares of the company’s stock, valued at $45,765,060.88. This represents a 4.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Gene Liu sold 165 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the sale, the chief accounting officer now directly owns 56,423 shares of the company’s stock, valued at approximately $13,871,030.32. The trade was a 0.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 265,642 shares of company stock valued at $51,882,956 in the last 90 days. 38.55% of the stock is currently owned by company insiders.

Institutional Trading of Atlassian

Several institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. boosted its holdings in Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after buying an additional 78,454 shares during the last quarter. State Street Corp boosted its stake in Atlassian by 0.3% during the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after purchasing an additional 8,957 shares during the last quarter. Dragoneer Investment Group LLC purchased a new stake in shares of Atlassian during the second quarter worth $469,803,000. FMR LLC lifted its stake in shares of Atlassian by 7.4% in the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after buying an additional 150,237 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Atlassian by 2.8% during the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after acquiring an additional 57,911 shares during the last quarter. Institutional investors and hedge funds 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.