Atlassian Co. (NASDAQ:TEAM) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Atlassian Co. (NASDAQ:TEAM - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-five brokerages that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $297.73.

TEAM has been the subject of a number of analyst reports. The Goldman Sachs Group increased their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Oppenheimer raised their target price on shares of Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and decreased their price target for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. Finally, Truist Financial cut their price objective on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Monday, March 31st.

Insiders Place Their Bets

In related news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $185.61, for a total transaction of $1,475,228.28. Following the completion of the sale, the director now directly owns 333,816 shares in the company, valued at approximately $61,959,587.76. The trade was a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 transaction of $249,287.79. Following the sale, the chief accounting officer now directly owns 52,710 shares of the company's stock, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 261,513 shares of company stock valued at $66,621,566. Insiders own 38.55% of the company's stock.

Institutional Trading of Atlassian

Several institutional investors have recently made changes to their positions in TEAM. Corebridge Financial Inc. raised its holdings in shares of Atlassian by 0.3% in the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock worth $2,555,000 after buying an additional 35 shares during the last quarter. GeoWealth Management LLC lifted its stake in Atlassian by 26.8% during the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after acquiring an additional 38 shares during the period. Assetmark Inc. boosted its stake in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after buying an additional 41 shares during the last quarter. Allworth Financial LP increased its holdings in Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after buying an additional 47 shares in the last quarter. Finally, True Wealth Design LLC raised its stake in shares of Atlassian by 21.6% during the 4th quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock worth $69,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Price Performance

TEAM stock traded up $7.97 during midday trading on Tuesday, reaching $208.27. The company had a trading volume of 1,802,614 shares, compared to its average volume of 2,054,664. Atlassian has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $54.57 billion, a P/E ratio of -155.42 and a beta of 1.07. The firm has a 50-day moving average price of $234.84 and a 200-day moving average price of $243.17.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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%. On average, research analysts anticipate that Atlassian will post -0.34 earnings per share for the current fiscal 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.