Atlassian (NASDAQ:TEAM) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Atlassian (NASDAQ:TEAM - Free Report) from a hold rating to a buy rating in a research report report published on Friday.

A number of other equities analysts have also weighed in on TEAM. William Blair reissued an "outperform" rating on shares of Atlassian in a research note on Friday, January 31st. Robert W. Baird lifted their price objective on shares of Atlassian from $175.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Cantor Fitzgerald lifted their target price on Atlassian from $264.00 to $304.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Macquarie boosted their target price on shares of Atlassian from $290.00 to $317.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Finally, The Goldman Sachs Group boosted 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. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $319.71.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded down $12.50 during mid-day trading on Friday, reaching $285.99. The stock had a trading volume of 1,717,448 shares, compared to its average volume of 2,056,392. The business's 50 day moving average price is $272.83 and its 200 day moving average price is $221.70. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market cap of $74.93 billion, a P/E ratio of -213.42 and a beta of 0.87. Atlassian has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) 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%. Research analysts expect 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 company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $313.95, for a total transaction of $2,495,274.60. Following the completion of the transaction, the chief executive officer now directly owns 230,492 shares of the company's stock, valued at approximately $72,362,963.40. This represents a 3.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 1,723 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the sale, the president now owns 199,934 shares of the company's stock, valued at $61,147,814.56. This trade represents a 0.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,501 shares of company stock valued at $75,215,542. Corporate insiders own 38.55% of the company's stock.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently modified their holdings of TEAM. Virtu Financial LLC purchased a new position in Atlassian in the 3rd quarter valued at about $606,000. Sequoia Financial Advisors LLC raised its holdings in shares of Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company's stock worth $306,000 after purchasing an additional 520 shares in the last quarter. Fulton Bank N.A. acquired a new stake in shares of Atlassian during the fourth quarter valued at approximately $447,000. Paloma Partners Management Co acquired a new position in Atlassian in the 3rd quarter valued at approximately $1,588,000. Finally, Impax Asset Management Group plc increased its stake in shares of Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company's stock worth $5,940,000 after purchasing an additional 31,986 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

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.