Atlassian (NASDAQ:TEAM) Now Covered by Stephens

Stock analysts at Stephens began coverage on shares of Atlassian (NASDAQ:TEAM) in a research report issued to clients and investors on Wednesday. The firm set an “equal weight” rating and a $255.00 price target on the technology company’s stock. Stephens’ price objective would suggest a potential upside of 16.20% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the company. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Citigroup raised their price objective on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Jefferies Financial Group raised their price objective on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Oppenheimer raised their price objective on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average price target of $316.77.

Atlassian Stock Down 0.7 %

Shares of Atlassian stock opened at $219.45 on Wednesday. Atlassian has a one year low of $135.29 and a one year high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock’s 50-day moving average is $272.20 and its 200 day moving average is $235.46. The firm has a market cap of $57.50 billion, a price-to-earnings ratio of -163.77 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts anticipate that Atlassian will post -0.34 EPS for the current year.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the sale, the president now directly owns 211,991 shares in the company, valued at approximately $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88. Following the completion of the sale, the chief executive officer now owns 270,232 shares in the company, valued at approximately $87,098,475.92. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 256,605 shares of company stock worth $69,903,340. 38.55% of the stock is owned by company insiders.

Institutional Trading of Atlassian

Hedge funds have recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian in the fourth quarter valued at $27,000. Colonial Trust Co SC raised its stake in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after buying an additional 69 shares during the period. True Wealth Design LLC raised its stake in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the period. Summit Securities Group LLC bought a new stake in shares of Atlassian in the fourth quarter valued at $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian in the fourth quarter valued at $39,000. 94.45% of the stock is currently owned by 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.