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

Shares of Atlassian Co. (NASDAQ:TEAM) have been assigned an average rating of “Moderate Buy” from the twenty-three analysts that are covering the stock, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $256.50.

TEAM has been the topic of a number of research analyst reports. Scotiabank boosted their price objective on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. KeyCorp raised their price objective on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Piper Sandler raised their target price on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Truist Financial upped their price target on Atlassian from $200.00 to $250.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. Finally, Oppenheimer boosted their price objective on Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st.

Insiders Place Their Bets

In other news, CAO Gene Liu sold 1,024 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $230,860.80. Following the sale, the chief accounting officer now directly owns 59,168 shares in the company, valued at $13,339,425.60. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the transaction, the president now directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,590 shares of company stock worth $59,183,668 over the last ninety days. 38.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlassian

Several institutional investors have recently bought and sold shares of the company. Asset Dedication LLC raised its holdings in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Rothschild Investment LLC acquired a new position in Atlassian during the second quarter worth $36,000. GAMMA Investing LLC grew its position in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC increased its stake in 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 buying an additional 231 shares during the last quarter. Finally, Reston Wealth Management LLC bought a new stake in Atlassian during the 3rd quarter worth about $48,000. Institutional investors own 94.45% of the company’s stock.

Atlassian Trading Down 3.0 %

Shares of NASDAQ:TEAM opened at $269.79 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market cap of $70.26 billion, a P/E ratio of -177.49 and a beta of 0.80. The company has a 50 day moving average of $231.30 and a 200-day moving average of $187.75. Atlassian has a twelve month low of $135.29 and a twelve month high of $287.97.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned ($0.07) earnings per share. Atlassian’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, analysts anticipate that Atlassian will post -0.54 earnings per share for the current fiscal year.

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.