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

Shares of Atlassian Co. (NASDAQ:TEAM) have been assigned an average rating of “Moderate Buy” from the eighteen analysts that are covering the company, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $224.25.

Several equities research analysts have recently weighed in on TEAM shares. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. The Goldman Sachs Group raised their price target on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Mizuho dropped their target price on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday. Finally, KeyCorp initiated coverage on Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock.

Insider Buying and Selling

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $245.64, for a total transaction of $2,024,319.24. Following the sale, the chief executive officer now owns 370,845 shares of the company’s stock, valued at approximately $91,094,365.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $245.64, for a total value of $2,024,319.24. Following the completion of the sale, the chief executive officer now directly owns 370,845 shares in the company, valued at approximately $91,094,365.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Rajeev Bashyam Rajan sold 872 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $185,622.64. Following the sale, the chief technology officer now owns 142,103 shares of the company’s stock, valued at $30,249,465.61. The disclosure for this sale can be found here. In the last three months, insiders have sold 298,930 shares of company stock worth $62,707,908. Insiders own 40.48% of the company’s stock.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new stake in shares of Atlassian in the third quarter valued at $26,000. Meeder Asset Management Inc. increased its position in Atlassian by 151.5% during the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after buying an additional 147 shares during the period. Tyler Stone Wealth Management purchased a new stake in Atlassian in the 2nd quarter valued at $34,000. Quarry LP purchased a new stake in shares of Atlassian in the second quarter valued at about $44,000. Finally, Harbour Investments Inc. raised its stake in Atlassian by 148.8% during the 4th quarter. Harbour Investments Inc. now owns 199 shares of the technology company’s stock valued at $47,000 after acquiring an additional 119 shares during the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $193.61 on Friday. The firm has a fifty day moving average price of $202.37 and a 200-day moving average price of $206.57. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. Atlassian has a 1 year low of $128.02 and a 1 year high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Analysts anticipate that Atlassian will post -0.4 earnings per share for the current year.

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.