Atlassian (NASDAQ:TEAM) Now Covered by BNP Paribas Exane

BNP Paribas Exane initiated coverage on shares of Atlassian (NASDAQ:TEAM) in a research note released on Monday morning, Marketbeat reports. The brokerage issued an outperform rating and a $95.00 price objective on the technology company’s stock.

Other equities research analysts have also recently issued reports about the company. Citigroup decreased their price target on Atlassian from $210.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Wolfe Research reaffirmed an “outperform” rating and issued a $100.00 price objective on shares of Atlassian in a research note on Thursday. Jefferies Financial Group set a $150.00 target price on Atlassian in a research report on Friday, February 6th. Robert W. Baird set a $140.00 target price on Atlassian in a research note on Friday, February 6th. Finally, Wall Street Zen cut Atlassian from a “buy” rating to a “hold” rating in a report on Sunday. Twenty-two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.78.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $76.17 on Monday. The firm has a fifty day moving average price of $102.63 and a 200-day moving average price of $140.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $20.09 billion, a PE ratio of -105.79 and a beta of 0.94. Atlassian has a 1 year low of $67.85 and a 1 year high of $242.00.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. Atlassian’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 EPS. Equities analysts anticipate that Atlassian will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In related news, CRO Brian Duffy sold 1,222 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $81.35, for a total value of $99,409.70. Following the sale, the executive directly owned 124,332 shares in the company, valued at approximately $10,114,408.20. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 3,072 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $81.35, for a total value of $249,907.20. Following the transaction, the chief technology officer directly owned 212,916 shares of the company’s stock, valued at approximately $17,320,716.60. The trade was a 1.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 327,943 shares of company stock valued at $45,665,135. 36.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Physician Wealth Advisors Inc. increased its position in Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after purchasing an additional 61 shares during the last quarter. GAMMA Investing LLC lifted its position in Atlassian by 12.0% during the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock valued at $100,000 after purchasing an additional 66 shares during the last quarter. Snowden Capital Advisors LLC lifted its position in Atlassian by 1.6% during the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after purchasing an additional 71 shares during the last quarter. Financial Perspectives Inc grew its stake in shares of Atlassian by 11.7% in the 4th quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock worth $116,000 after buying an additional 75 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Atlassian by 0.3% in the 2nd quarter. Cetera Investment Advisers now owns 24,808 shares of the technology company’s stock worth $5,038,000 after buying an additional 79 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.