Atlassian Corporation PLC (NASDAQ:TEAM) Receives $142.15 Average PT from Analysts

Atlassian Corporation PLC (NASDAQ:TEAM) has earned a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $138.50.

A number of research firms recently weighed in on TEAM. Barclays lifted their price objective on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a report on Monday, April 20th. Robert W. Baird set a $120.00 price target on Atlassian in a report on Friday, May 1st. Bank of America reduced their price target on Atlassian from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Zacks Research lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th.

Insider Transactions at Atlassian

In other news, CRO Brian Duffy sold 3,000 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the sale, the executive directly owned 227,691 shares in the company, valued at $20,426,159.61. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO James Chuong sold 8,838 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the completion of the sale, the chief financial officer directly owned 288,272 shares in the company, valued at approximately $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 20,041 shares of company stock valued at $1,801,069 in the last ninety days. Insiders own 36.66% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. E. Ohman J or Asset Management AB grew its position in shares of Atlassian by 30.0% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 6,059 shares of the technology company’s stock valued at $471,000 after purchasing an additional 1,400 shares in the last quarter. Fluent Financial LLC purchased a new stake in shares of Atlassian in the second quarter worth $2,239,000. FNY Investment Advisers LLC raised its position in shares of Atlassian by 1,503.1% in the second quarter. FNY Investment Advisers LLC now owns 10,420 shares of the technology company’s stock worth $810,000 after buying an additional 9,770 shares in the last quarter. Elevation Wealth Partners LLC bought a new stake in Atlassian during the second quarter valued at $39,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in Atlassian by 4.7% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 65,441 shares of the technology company’s stock valued at $5,091,000 after buying an additional 2,908 shares during the period. 94.45% of the stock is owned by institutional investors.

Atlassian Price Performance

NASDAQ TEAM opened at $93.29 on Thursday. The company has a market cap of $23.67 billion, a PE ratio of -112.40, a price-to-earnings-growth ratio of 5.76 and a beta of 1.11. Atlassian has a 52 week low of $56.01 and a 52 week high of $206.00. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The firm’s 50-day simple moving average is $88.74 and its two-hundred day simple moving average is $91.91.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the company earned $0.97 earnings per share. The company’s revenue was up 31.7% on a year-over-year basis. Research analysts predict that Atlassian will post 0.81 earnings per share for the current year.

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.