Atlassian (NASDAQ:TEAM) Upgraded at StockNews.com

StockNews.com upgraded shares of Atlassian (NASDAQ:TEAM) from a hold rating to a buy rating in a research report sent to investors on Monday morning.

Other equities analysts have also recently issued research reports about the stock. KeyCorp upped their price target on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group upped their price target 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. Piper Sandler upped their target price on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Barclays upped their target price on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday. Finally, JMP Securities restated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $318.43.

Atlassian Stock Up 1.3 %

NASDAQ:TEAM opened at $320.80 on Monday. The firm’s 50-day moving average price is $263.77 and its 200-day moving average price is $211.16. The company has a market capitalization of $83.55 billion, a PE ratio of -239.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian has a 1-year low of $135.29 and a 1-year high of $324.37.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 18.00% and a negative net margin of 7.22%. On average, equities analysts predict that Atlassian will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, CAO Gene Liu sold 785 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $240.00, for a total transaction of $188,400.00. Following the completion of the sale, the chief accounting officer now directly owns 57,938 shares of the company’s stock, valued at $13,905,120. This trade represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $311.20, for a total transaction of $2,473,417.60. Following the sale, the chief executive officer now directly owns 309,972 shares of the company’s stock, valued at approximately $96,463,286.40. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 257,490 shares of company stock valued at $66,864,604. 38.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atlassian

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Atlassian during the 3rd quarter valued at approximately $606,000. Sequoia Financial Advisors LLC grew its holdings in Atlassian by 37.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after buying an additional 520 shares in the last quarter. Fulton Bank N.A. purchased a new stake in Atlassian during the 4th quarter valued at approximately $447,000. Paloma Partners Management Co purchased a new stake in Atlassian during the 3rd quarter valued at approximately $1,588,000. Finally, Impax Asset Management Group plc grew its holdings in Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after buying an additional 31,986 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.