Atlassian (NASDAQ:TEAM) Given Market Perform Rating at Citizens Jmp

Atlassian (NASDAQ:TEAM)‘s stock had its “market perform” rating reiterated by research analysts at Citizens Jmp in a note issued to investors on Wednesday,Benzinga reports.

Several other research analysts have also weighed in on TEAM. BNP Paribas Exane initiated coverage on Atlassian in a research report on Monday, March 16th. They set an “outperform” rating and a $95.00 price target on the stock. Raymond James Financial set a $130.00 price objective on Atlassian in a report on Friday, May 1st. Wells Fargo & Company decreased their target price on shares of Atlassian from $155.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. TD Cowen boosted their target price on shares of Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Atlassian in a research report on Monday. Twenty-one analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.26.

Atlassian Stock Up 7.3%

Shares of NASDAQ TEAM traded up $5.67 during mid-day trading on Wednesday, hitting $83.46. The company had a trading volume of 438,478 shares, compared to its average volume of 6,715,117. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. The firm has a 50-day simple moving average of $85.67 and a two-hundred day simple moving average of $98.12. The company has a market capitalization of $21.18 billion, a PE ratio of -100.23, a price-to-earnings-growth ratio of 4.49 and a beta of 1.07. Atlassian has a one year low of $56.01 and a one year high of $222.59.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. Atlassian’s revenue was up 31.7% on a year-over-year basis. On average, equities analysts expect that Atlassian will post 0.81 EPS for the current year.

Insider Buying and Selling at Atlassian

In other news, CFO James Chuong sold 8,838 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at $25,295,868. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the sale, the executive owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This represents a 1.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 20,041 shares of company stock worth $1,801,069. Corporate insiders own 36.66% of the company’s stock.

Institutional Investors Weigh In On Atlassian

A number of institutional investors have recently made changes to their positions in the company. MV Capital Management Inc. bought a new position in shares of Atlassian during the fourth quarter worth approximately $25,000. Western Wealth Management LLC bought a new stake in Atlassian in the 1st quarter valued at $30,000. State of Wyoming boosted its stake in Atlassian by 65.7% in the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after purchasing an additional 178 shares during the period. Board of the Pension Protection Fund acquired a new position in Atlassian in the 4th quarter valued at $32,000. Finally, Basepoint Wealth LLC acquired a new position in Atlassian in the 4th quarter valued at $32,000. Institutional investors 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.