Atlassian (NASDAQ:TEAM) Now Covered by Stephens

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

A number of other equities research analysts also recently weighed in on TEAM. Truist Financial reaffirmed a “buy” rating and set a $350.00 price target (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Morgan Stanley upped their target price on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Scotiabank raised their price target on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. Oppenheimer raised their price objective on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group increased their target price on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $316.77.

Atlassian Stock Performance

NASDAQ:TEAM opened at $227.34 on Wednesday. The company has a 50-day moving average of $271.24 and a 200-day moving average of $235.79. The firm has a market cap of $59.56 billion, a price-to-earnings ratio of -169.66 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian has a twelve month low of $135.29 and a twelve month high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Analysts forecast that Atlassian will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $226.93, for a total value of $1,803,639.64. Following the completion of the transaction, the chief executive officer now directly owns 55,636 shares in the company, valued at $12,625,477.48. This trade represents a 12.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the sale, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 263,033 shares of company stock worth $71,015,177. Corporate insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

A number of hedge funds have recently made changes to their positions in TEAM. Virtu Financial LLC acquired a new position in Atlassian in the 3rd quarter valued at about $606,000. Fulton Bank N.A. bought a new stake in Atlassian in the 4th quarter valued at $447,000. Paloma Partners Management Co acquired a new position in Atlassian in the 3rd quarter valued at $1,588,000. Allworth Financial LP increased its position in Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after buying an additional 47 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Atlassian by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 583,579 shares of the technology company’s stock valued at $92,678,000 after acquiring an additional 12,422 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

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.