Atlassian (NASDAQ:TEAM) Earns Equal Weight Rating from Analysts at Stephens

Stephens assumed coverage on shares of Atlassian (NASDAQ:TEAM) in a report released on Wednesday, MarketBeat reports. The brokerage issued an equal weight rating and a $255.00 price objective on the technology company’s stock.

A number of other research firms also recently weighed in on TEAM. Macquarie lifted their target price on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Oppenheimer lifted their price objective on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Canaccord Genuity Group upped their target price on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Piper Sandler boosted their price target on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $316.77.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $229.86 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $271.91 and its two-hundred day moving average is $235.42. The company has a market cap of $60.22 billion, a P/E ratio of -171.54 and a beta of 0.91. Atlassian has a 12 month low of $135.29 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, equities analysts expect that Atlassian will post -0.34 EPS for the current year.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $255.22, for a total transaction of $2,028,488.56. Following the transaction, the chief executive officer now owns 47,688 shares of the company’s stock, valued at approximately $12,170,931.36. This represents a 14.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the sale, the president now directly owns 211,991 shares of the company’s stock, valued at $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 264,553 shares of company stock worth $71,627,261 in the last 90 days. Corporate insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian during the fourth quarter worth approximately $27,000. Colonial Trust Co SC raised its position in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after acquiring an additional 69 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the period. Summit Securities Group LLC bought a new position in shares of Atlassian in the 4th quarter worth $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian during the fourth quarter worth $39,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.