Atlassian (NASDAQ:TEAM) Earns Equal Weight Rating from Analysts at Stephens

Equities researchers at Stephens started coverage on shares of Atlassian (NASDAQ:TEAM) in a research report issued on Wednesday. The brokerage set an “equal weight” rating and a $255.00 price target on the technology company’s stock. Stephens’ price objective suggests a potential upside of 16.20% from the company’s previous close.

Several other equities analysts have also recently commented on the company. Wells Fargo & Company boosted their target price on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Canaccord Genuity Group upped their price objective on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Scotiabank upped their price objective on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Finally, Raymond James reiterated an “outperform” rating and issued a $330.00 price objective (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $316.77.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $219.45 on Wednesday. The stock has a market cap of $57.50 billion, a PE ratio of -163.77 and a beta of 0.91. Atlassian has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a fifty day moving average of $272.20 and a 200-day moving average of $235.46.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts anticipate that Atlassian will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $227.55, for a total transaction of $1,808,567.40. Following the completion of the transaction, the chief executive officer now owns 103,324 shares of the company’s stock, valued at $23,511,376.20. This represents a 7.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Gene Liu sold 779 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now directly owns 52,710 shares of the company’s stock, valued at $16,867,727.10. The trade was a 1.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 256,605 shares of company stock valued at $69,903,340 in the last 90 days. Insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. 111 Capital bought a new position in shares of Atlassian in the 4th quarter worth approximately $465,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Atlassian by 62.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,567 shares of the technology company’s stock worth $3,059,000 after acquiring an additional 4,837 shares in the last quarter. Siemens Fonds Invest GmbH raised its position in shares of Atlassian by 16.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,011 shares of the technology company’s stock worth $489,000 after acquiring an additional 289 shares in the last quarter. Menard Financial Group LLC bought a new position in shares of Atlassian in the 4th quarter worth approximately $810,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Atlassian in the 4th quarter worth approximately $25,279,000. Institutional investors 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.