Atlassian Co. (NASDAQ:TEAM) Receives Consensus Rating of “Moderate Buy” from Analysts

Atlassian Co. (NASDAQ:TEAM) has been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $226.94.

TEAM has been the subject of several recent research reports. Truist Financial decreased their price objective on Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a report on Friday, April 26th. Wells Fargo & Company cut their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. KeyCorp began coverage on Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating for the company. Robert W. Baird cut their price objective on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Finally, Oppenheimer dropped their target price on Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, April 26th.

Insider Transactions at Atlassian

In other news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $177.25, for a total value of $1,408,783.00. Following the completion of the transaction, the chief executive officer now owns 500,724 shares of the company’s stock, valued at approximately $88,753,329. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $160.00, for a total transaction of $121,600.00. Following the transaction, the president now owns 153,294 shares in the company, valued at $24,527,040. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $177.25, for a total value of $1,408,783.00. Following the completion of the transaction, the chief executive officer now directly owns 500,724 shares in the company, valued at approximately $88,753,329. The disclosure for this sale can be found here. Over the last three months, insiders have sold 279,854 shares of company stock valued at $49,959,914. Insiders own 40.48% of the company’s stock.

Institutional Trading of Atlassian

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Atlassian by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after acquiring an additional 221,650 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after buying an additional 904,138 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of Atlassian by 2.7% in the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after acquiring an additional 249,017 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in Atlassian by 7.9% during the fourth quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock worth $826,113,000 after buying an additional 255,653 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Atlassian Stock Performance

TEAM stock opened at $182.28 on Wednesday. The stock’s 50 day moving average is $171.58 and its 200-day moving average is $200.80. Atlassian has a twelve month low of $152.34 and a twelve month high of $258.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.27. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. Atlassian’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.40) earnings per share. On average, research analysts predict that Atlassian will post -0.21 EPS 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.