Atlassian Corporation PLC (NASDAQ:TEAM) Receives Consensus Rating of “Moderate Buy” from Analysts

Atlassian Corporation PLC (NASDAQ:TEAM) has been assigned an average rating of “Moderate Buy” from the twenty-seven ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $179.00.

A number of brokerages recently commented on TEAM. Cantor Fitzgerald decreased their price target on Atlassian from $240.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. KeyCorp decreased their price target on Atlassian from $170.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. UBS Group restated a “neutral” rating and issued a $105.00 price target on shares of Atlassian in a research report on Friday, February 6th. Wall Street Zen upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Monday, March 23rd. Finally, BNP Paribas Exane began coverage on Atlassian in a research report on Monday, March 16th. They issued an “outperform” rating and a $95.00 price target on the stock.

Insider Transactions at Atlassian

In other news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $120.82, for a total transaction of $926,085.30. Following the sale, the director directly owned 383,250 shares of the company’s stock, valued at approximately $46,304,265. This trade represents a 1.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $118.19, for a total value of $905,926.35. Following the sale, the chief executive officer directly owned 367,920 shares in the company, valued at $43,484,464.80. The trade was a 2.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 205,303 shares of company stock worth $25,949,529. Company insiders own 36.66% of the company’s stock.

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in TEAM. AQR Capital Management LLC lifted its stake in shares of Atlassian by 291.4% in the fourth quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock worth $1,256,535,000 after acquiring an additional 5,769,788 shares during the period. DNB Asset Management AS lifted its stake in shares of Atlassian by 266.6% in the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after acquiring an additional 2,041,210 shares during the period. Norges Bank acquired a new position in shares of Atlassian in the fourth quarter worth approximately $323,526,000. Morgan Stanley lifted its stake in Atlassian by 52.4% in the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock valued at $781,841,000 after buying an additional 1,657,309 shares during the period. Finally, Carmignac Gestion lifted its stake in Atlassian by 6,602.0% in the fourth quarter. Carmignac Gestion now owns 1,206,368 shares of the technology company’s stock valued at $195,601,000 after buying an additional 1,188,368 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Trading Down 0.3%

Shares of Atlassian stock opened at $68.09 on Tuesday. The business has a fifty day simple moving average of $82.87 and a two-hundred day simple moving average of $129.05. Atlassian has a 1 year low of $64.30 and a 1 year high of $242.00. The company has a market capitalization of $17.96 billion, a price-to-earnings ratio of -94.57 and a beta of 0.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Friday, February 6th. The technology company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The company’s revenue was up 23.3% on a year-over-year basis. Research analysts forecast that Atlassian will post -0.34 EPS for the current year.

Atlassian Company Profile

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.