Atlassian Co. (NASDAQ:TEAM) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Atlassian Co. (NASDAQ:TEAM - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-five research firms that are presently covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $314.73.

Several research firms recently commented on TEAM. Wells Fargo & Company raised their price objective on shares of Atlassian from $350.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Mizuho lifted their price target on Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Macquarie increased their price objective on Atlassian from $290.00 to $317.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Stephens started coverage on Atlassian in a report on Wednesday, March 19th. They set an "equal weight" rating and a $255.00 target price for the company. Finally, Oppenheimer upped their price target on Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a research report on Friday, January 31st.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 1,520 shares of the company's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares of the company's stock, valued at $54,690,889.35. This represents a 0.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $242.27, for a total transaction of $1,925,561.96. Following the completion of the transaction, the chief executive officer now directly owns 476,880 shares in the company, valued at approximately $115,533,717.60. The trade was a 1.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,033 shares of company stock worth $70,403,022. 38.55% of the stock is owned by insiders.

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Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Massachusetts Financial Services Co. MA purchased a new stake in shares of Atlassian in the 4th quarter worth $687,486,000. Voya Investment Management LLC grew its holdings in Atlassian by 17,941.0% during the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after purchasing an additional 2,160,810 shares during the period. JPMorgan Chase & Co. grew its holdings in Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the period. Invesco Ltd. increased its position in Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after buying an additional 1,777,179 shares in the last quarter. Finally, Durable Capital Partners LP raised its stake in shares of Atlassian by 499.7% in the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock worth $383,456,000 after buying an additional 1,312,820 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Performance

NASDAQ TEAM traded down $5.78 on Friday, hitting $212.21. 2,397,572 shares of the stock traded hands, compared to its average volume of 1,978,402. 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 business's fifty day moving average is $268.47 and its two-hundred day moving average is $239.44. Atlassian has a 12 month low of $135.29 and a 12 month high of $326.00. The firm has a market capitalization of $55.60 billion, a price-to-earnings ratio of -158.36 and a beta of 0.91.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data 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 return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities analysts anticipate that Atlassian will post -0.34 EPS 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.