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

Atlassian (NASDAQ:TEAM) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

A number of other research firms have also weighed in on TEAM. Macquarie raised their price objective on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Morgan Stanley lifted their price target on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Barclays lifted their price target on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Piper Sandler lifted their price target on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Trading Down 8.1 %

Shares of NASDAQ TEAM opened at $208.00 on Wednesday. The stock has a market cap of $54.50 billion, a P/E ratio of -155.22 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian has a 1 year low of $135.29 and a 1 year high of $326.00. The firm has a 50-day moving average of $274.08 and a 200 day moving average of $233.34.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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, sell-side analysts expect that Atlassian will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Gene Liu sold 779 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at $16,867,727.10. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the transaction, the president now directly owns 211,991 shares in the company, valued at $54,006,827.16. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 272,501 shares of company stock worth $74,167,124. Insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TEAM. Principal Financial Group Inc. increased its stake in Atlassian by 61.4% in the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock worth $1,710,000 after buying an additional 4,099 shares during the period. Venturi Wealth Management LLC grew its holdings in Atlassian by 18.6% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,411 shares of the technology company’s stock worth $224,000 after acquiring an additional 221 shares in the last quarter. GSA Capital Partners LLP grew its holdings in Atlassian by 140.4% during the 3rd quarter. GSA Capital Partners LLP now owns 4,827 shares of the technology company’s stock worth $767,000 after acquiring an additional 2,819 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Atlassian by 1.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 366,254 shares of the technology company’s stock worth $58,165,000 after acquiring an additional 6,470 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in Atlassian by 24.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company’s stock worth $281,000 after acquiring an additional 347 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.