StockNews.com Downgrades Atlassian (NASDAQ:TEAM) to Hold

Atlassian (NASDAQ:TEAM - Get Free Report) was downgraded by equities researchers at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Thursday.

Other equities analysts have also issued reports about the stock. JMP Securities reaffirmed a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Jefferies Financial Group upped their price objective on Atlassian from $300.00 to $325.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Robert W. Baird lifted their target price on Atlassian from $175.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Morgan Stanley upped their price target on Atlassian from $315.00 to $370.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Canaccord Genuity Group lifted their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a report on Friday, December 20th. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $319.71.

Atlassian Trading Down 0.9 %

Shares of TEAM traded down $2.90 during trading hours on Thursday, reaching $313.10. The stock had a trading volume of 2,882,414 shares, compared to its average volume of 2,088,136. The company has a market cap of $82.03 billion, a P/E ratio of -233.65 and a beta of 0.87. Atlassian has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average of $270.09 and a 200 day moving average of $218.39.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced 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 return on equity of 17.37% and a negative net margin of 7.22%. On average, sell-side analysts expect that Atlassian will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CAO Gene Liu sold 165 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.84, for a total value of $40,563.60. Following the transaction, the chief accounting officer now owns 56,423 shares of the company's stock, valued at approximately $13,871,030.32. This represents a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 1,659 shares of Atlassian stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the sale, the president now directly owns 213,511 shares of the company's stock, valued at approximately $52,483,138.91. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 277,276 shares of company stock valued at $74,998,903 in the last quarter. 38.55% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TEAM. Massachusetts Financial Services Co. MA acquired a new position in shares of Atlassian in the fourth quarter valued at about $687,486,000. Voya Investment Management LLC boosted its holdings in Atlassian by 17,941.0% in the 4th 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 position in shares of Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the period. Finally, Durable Capital Partners LP raised its position 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 valued at $383,456,000 after buying an additional 1,312,820 shares in the last quarter. 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.