A number of other equities research analysts have also weighed in on TEAM. The Goldman Sachs Group lifted their price objective on Atlassian from $188.00 to $215.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. Scotiabank initiated coverage on Atlassian in a report on Friday, December 1st. They issued a sector perform rating and a $185.00 price objective for the company. Citigroup lifted their price objective on Atlassian from $215.00 to $280.00 and gave the stock a buy rating in a report on Monday, January 22nd. Mizuho boosted their price target on Atlassian from $240.00 to $265.00 and gave the company a buy rating in a report on Tuesday, January 16th. Finally, Capital One Financial began coverage on Atlassian in a research report on Monday, December 18th. They issued an equal weight rating and a $238.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating and ten 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 $225.19.
Atlassian Price Performance
In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the transaction, the chief executive officer now owns 346,122 shares of the company’s stock, valued at $87,752,310.66. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $253.53, for a total value of $2,089,340.73. Following the transaction, the chief executive officer now owns 346,122 shares of the company’s stock, valued at $87,752,310.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 2,470 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $240.55, for a total value of $594,158.50. Following the completion of the transaction, the president now directly owns 171,674 shares in the company, valued at approximately $41,296,180.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 303,936 shares of company stock valued at $66,055,768. 40.48% of the stock is currently owned by insiders.
Institutional Trading of Atlassian
Hedge funds and other institutional investors have recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new stake in shares of Atlassian in the 3rd quarter worth $26,000. Meeder Asset Management Inc. lifted its holdings in Atlassian by 151.5% in the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after acquiring an additional 147 shares during the last quarter. Tyler Stone Wealth Management acquired a new position in Atlassian during the second quarter worth $34,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of Atlassian during the second quarter worth $41,000. Finally, Quarry LP purchased a new position in Atlassian in the second quarter valued at $44,000. Institutional investors own 53.36% of the company’s stock.
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.
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