Atlassian Co. (NASDAQ:TEAM) Short Interest Update

Atlassian Co. (NASDAQ:TEAM - Get Free Report) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 3,090,000 shares, a drop of 13.4% from the February 13th total of 3,570,000 shares. Currently, 1.9% of the company's shares are sold short. Based on an average daily volume of 2,090,000 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TEAM shares. Cantor Fitzgerald lifted their price objective on shares of Atlassian from $264.00 to $304.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Citigroup lifted their price objective on shares of Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a report on Friday, January 17th. Jefferies Financial Group lifted their price objective on shares of Atlassian from $300.00 to $325.00 and gave the company a "buy" rating in a report on Friday, January 24th. Oppenheimer lifted their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group lifted their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus target price of $316.77.

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Atlassian Stock Performance

NASDAQ TEAM traded up $1.18 on Friday, reaching $227.34. 2,518,346 shares of the company's stock traded hands, compared to its average volume of 1,941,341. The firm has a market cap of $59.56 billion, a price-to-earnings ratio of -169.66 and a beta of 0.91. The stock has a 50 day moving average price of $271.24 and a 200-day moving average price of $236.29. 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.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 predict that Atlassian will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $255.25, for a total transaction of $2,028,727.00. Following the transaction, the chief executive officer now directly owns 31,792 shares of the company's stock, valued at approximately $8,114,908. This trade represents a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Gene Liu sold 568 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the transaction, the chief accounting officer now directly owns 52,142 shares in the company, valued at approximately $16,272,475.36. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock valued at $71,015,177 over the last 90 days. Insiders own 38.55% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 111 Capital purchased a new position in Atlassian in the fourth quarter valued at $465,000. Wealth Enhancement Advisory Services LLC increased its holdings in Atlassian by 62.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,567 shares of the technology company's stock valued at $3,059,000 after buying an additional 4,837 shares in the last quarter. Siemens Fonds Invest GmbH increased its holdings in Atlassian by 16.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,011 shares of the technology company's stock valued at $489,000 after buying an additional 289 shares in the last quarter. Menard Financial Group LLC purchased a new position in Atlassian in the fourth quarter valued at $810,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Atlassian in the fourth quarter valued at $25,279,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

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.