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

Atlassian Co. (NASDAQ:TEAM) has been assigned a consensus rating of “Moderate Buy” from the twenty-five analysts that are currently covering the company, Marketbeat reports. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $316.77.

TEAM has been the subject of several analyst reports. Scotiabank raised their target price on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Stephens began coverage on Atlassian in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 price objective for the company. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. KeyCorp raised their price target on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company upped their price objective on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the transaction, the chief executive officer now directly owns 429,192 shares in the company, valued at $104,529,711.60. This trade represents a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares in the company, valued at $54,690,889.35. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock worth $70,644,164 over the last quarter. 38.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TEAM. Corebridge Financial Inc. raised its position in Atlassian by 0.3% in the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company’s stock valued at $2,555,000 after buying an additional 35 shares during the last quarter. GeoWealth Management LLC raised its holdings in shares of Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company’s stock valued at $44,000 after purchasing an additional 38 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after purchasing an additional 41 shares during the last quarter. Allworth Financial LP lifted its position in shares of Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after purchasing an additional 47 shares in the last quarter. Finally, True Wealth Design LLC boosted its holdings in Atlassian by 21.6% during the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company’s stock worth $69,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $222.64 on Friday. The stock’s 50-day moving average is $269.96 and its 200-day moving average is $237.69. The stock has a market cap of $58.33 billion, a P/E ratio of -166.15 and a beta of 0.91. Atlassian has a 1-year low of $135.29 and a 1-year high of $326.00. 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 (NASDAQ:TEAM) last posted its earnings results 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 return on equity of 17.37% and a negative net margin of 7.22%. Equities research analysts anticipate that Atlassian will post -0.34 earnings per share for the current 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.