JMP Securities Reiterates Market Perform Rating for Atlassian (NASDAQ:TEAM)

Atlassian (NASDAQ:TEAM)‘s stock had its “market perform” rating reaffirmed by analysts at JMP Securities in a report released on Friday,Benzinga reports.

TEAM has been the topic of a number of other reports. Jefferies Financial Group upped their target price on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Citigroup increased their price target on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Morgan Stanley lifted their price objective on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday. Finally, Macquarie began coverage on shares of Atlassian in a research report on Thursday, December 12th. They set a “neutral” rating and a $290.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $301.05.

Atlassian Price Performance

TEAM stock traded up $42.39 during midday trading on Friday, hitting $309.34. The company’s stock had a trading volume of 4,829,578 shares, compared to its average volume of 2,004,641. The firm has a market capitalization of $80.56 billion, a price-to-earnings ratio of -203.70 and a beta of 0.83. The company has a 50 day moving average of $259.32 and a two-hundred day moving average of $206.76. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian has a 12 month low of $135.29 and a 12 month high of $324.37.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. On average, analysts expect that Atlassian will post -0.55 EPS for the current year.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the sale, the chief executive officer now owns 429,192 shares in the company, valued at $104,529,711.60. This represents a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36. Following the transaction, the director now owns 309,972 shares of the company’s stock, valued at approximately $67,905,566.04. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 257,156 shares of company stock worth $65,313,573. Company insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Point72 Asset Management L.P. boosted its stake in shares of Atlassian by 760.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after acquiring an additional 617,566 shares in the last quarter. Two Sigma Advisers LP grew its holdings in Atlassian by 122.0% in the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares during the period. Westfield Capital Management Co. LP acquired a new position in shares of Atlassian during the 3rd quarter worth approximately $57,149,000. Parnassus Investments LLC grew its stake in Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after acquiring an additional 245,286 shares during the period. Finally, PointState Capital LP acquired a new position in Atlassian during the third quarter worth $30,566,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.