Atlassian (NASDAQ:TEAM) Now Covered by Analysts at Stephens

Stephens started coverage on shares of Atlassian (NASDAQ:TEAM - Free Report) in a research note released on Wednesday morning, Marketbeat reports. The brokerage issued an equal weight rating and a $255.00 target price on the technology company's stock.

Several other equities research analysts have also recently issued reports on the stock. Oppenheimer raised their price objective 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. Morgan Stanley lifted their price target on shares of Atlassian from $315.00 to $370.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. KeyCorp lifted their price target on shares of Atlassian from $315.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. The Goldman Sachs Group lifted their price target on shares of Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Barclays lifted their price objective on shares of Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus target price of $316.77.

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Atlassian Price Performance

Shares of NASDAQ:TEAM traded up $1.18 during midday trading on Wednesday, hitting $227.34. The company's stock had a trading volume of 2,518,346 shares, compared to its average volume of 1,941,341. The business's 50 day simple moving average is $271.24 and its 200 day simple moving average is $236.81. 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 company has a market cap of $59.56 billion, a P/E ratio of -169.66 and a beta of 0.91. Atlassian has a 12-month low of $135.29 and a 12-month high of $326.00.

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 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, analysts forecast that Atlassian will post -0.34 EPS for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $255.25, for a total value of $2,028,727.00. Following the sale, the chief executive officer now directly owns 31,792 shares in the company, valued at approximately $8,114,908. The trade was a 20.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 568 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.08, for a total transaction of $177,261.44. Following the completion of the sale, the chief accounting officer now 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 263,033 shares of company stock valued at $71,015,177 over the last 90 days. 38.55% of the stock is owned by corporate insiders.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Corebridge Financial Inc. raised its holdings in Atlassian by 0.3% during the 4th 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 period. GeoWealth Management LLC grew its stake in shares of Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after buying an additional 38 shares in the last quarter. Assetmark Inc. boosted its position in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after purchasing an additional 41 shares during the period. Allworth Financial LP boosted its position in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after purchasing an additional 47 shares during the period. Finally, True Wealth Design LLC boosted its position in Atlassian by 21.6% during the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock worth $69,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds 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.