Brokerages Set Atlassian Co. (NASDAQ:TEAM) PT at $216.65

by · The Markets Daily

Shares of Atlassian Co. (NASDAQ:TEAM – Get Free Report) have been given an average recommendation of “Moderate Buy” by the twenty-one brokerages that are presently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $216.65.

A number of equities analysts have issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Morgan Stanley reduced their price target on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Finally, JMP Securities raised shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd.

View Our Latest Report on Atlassian

Atlassian Stock Up 0.3 %

TEAM stock opened at $168.02 on Friday. The firm has a 50 day moving average of $158.73 and a 200 day moving average of $171.92. The stock has a market capitalization of $43.69 billion, a PE ratio of -266.70 and a beta of 0.73. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian has a 52 week low of $135.29 and a 52 week high of $258.69.

Atlassian (NASDAQ:TEAM – Get Free Report) last released its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. Atlassian’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same period last year, the business earned ($0.21) EPS. Sell-side analysts forecast that Atlassian will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Friday, July 12th. The shares were sold at an average price of $181.21, for a total transaction of $1,440,257.08. Following the sale, the chief executive officer now owns 437,140 shares of the company’s stock, valued at $79,214,139.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $175.00, for a total value of $133,000.00. Following the sale, the president now directly owns 152,534 shares in the company, valued at approximately $26,693,450. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $181.21, for a total transaction of $1,440,257.08. Following the completion of the sale, the chief executive officer now owns 437,140 shares in the company, valued at approximately $79,214,139.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 224,263 shares of company stock valued at $36,832,448 in the last 90 days. 40.48% of the stock is owned by insiders.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Atlassian by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after buying an additional 221,650 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Atlassian by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares during the period. Dragoneer Investment Group LLC purchased a new stake in Atlassian during the second quarter worth about $469,803,000. Capital International Investors increased its stake in Atlassian by 6.3% during the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock worth $475,399,000 after purchasing an additional 144,117 shares during the period. Finally, Clearbridge Investments LLC increased its stake in Atlassian by 6.7% during the first quarter. Clearbridge Investments LLC now owns 2,070,928 shares of the technology company’s stock worth $404,059,000 after purchasing an additional 130,253 shares during the period. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

About Atlassian

(Get Free Report

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.

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