Atlassian (NASDAQ:TEAM) Now Covered by BTIG Research

BTIG Research started coverage on shares of Atlassian (NASDAQ:TEAM) in a report issued on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $220.00 target price on the technology company’s stock.

Several other analysts also recently issued reports on the company. Cowen reiterated a “hold” rating on shares of Atlassian in a report on Monday, October 27th. KeyCorp lowered their target price on Atlassian from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, October 23rd. Wall Street Zen raised Atlassian from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Macquarie decreased their price target on Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, TD Cowen dropped their price objective on shares of Atlassian from $220.00 to $205.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $239.23.

Atlassian Price Performance

Shares of Atlassian stock opened at $161.98 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian has a twelve month low of $139.70 and a twelve month high of $326.00. The stock has a market capitalization of $42.62 billion, a P/E ratio of -228.14, a PEG ratio of 30.10 and a beta of 0.89. The business’s fifty day moving average price is $156.48 and its 200 day moving average price is $174.53.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The company’s revenue was up 20.6% on a year-over-year basis. As a group, research analysts anticipate that Atlassian will post -0.34 earnings per share for the current year.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $158.92, for a total transaction of $1,218,121.80. Following the sale, the chief executive officer directly owned 76,650 shares of the company’s stock, valued at approximately $12,181,218. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $158.92, for a total transaction of $1,218,121.80. Following the completion of the transaction, the director owned 76,650 shares in the company, valued at approximately $12,181,218. The trade was a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 581,709 shares of company stock valued at $91,408,701. Corporate insiders own 36.66% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the business. Capco Asset Management LLC acquired a new position in Atlassian in the second quarter valued at approximately $25,000. Physician Wealth Advisors Inc. lifted its holdings in shares of Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after purchasing an additional 61 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the last quarter. Atlantic Union Bankshares Corp boosted its position in Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares during the period. Finally, State of Wyoming grew its stake in Atlassian by 20.3% during the 1st quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds 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.