Brokerages Set Atlassian Co. (NASDAQ:TEAM) PT at $297.73

Atlassian Co. (NASDAQ:TEAM - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-four analysts that are currently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $301.90.

TEAM has been the topic of a number of research reports. KeyCorp cut their price objective on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Morgan Stanley decreased their price objective on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. JMP Securities reissued a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Barclays upped their price target on shares of Atlassian from $275.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Robert W. Baird upgraded Atlassian from a "neutral" rating to an "outperform" rating and reduced their price objective for the stock from $320.00 to $255.00 in a research note on Monday, April 14th.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 1,723 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total transaction of $526,962.32. Following the completion of the transaction, the president now directly owns 199,934 shares in the company, valued at $61,147,814.56. The trade was a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $322.31, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 261,513 shares of company stock valued at $66,183,631 over the last three months. 38.55% of the stock is currently owned by insiders.

Institutional Trading of Atlassian

Hedge funds have recently modified their holdings of the company. Alta Advisers Ltd acquired a new stake in shares of Atlassian during the 1st quarter valued at about $201,000. Libra Wealth LLC acquired a new position in Atlassian in the first quarter worth $559,000. Amalgamated Bank grew its holdings in Atlassian by 6.1% during the 1st quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock worth $2,411,000 after acquiring an additional 650 shares during the last quarter. Essex Financial Services Inc. increased its holdings in shares of Atlassian by 19.0% in the first quarter. Essex Financial Services Inc. now owns 1,480 shares of the technology company's stock valued at $314,000 after purchasing an additional 236 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Atlassian by 67.3% during the first quarter. KBC Group NV now owns 421,204 shares of the technology company's stock worth $89,384,000 after acquiring an additional 169,492 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Atlassian Price Performance

NASDAQ TEAM traded up $3.60 during mid-day trading on Tuesday, hitting $228.68. The stock had a trading volume of 2,545,073 shares, compared to its average volume of 2,064,503. The company has a 50 day simple moving average of $229.25 and a 200 day simple moving average of $243.74. The company has a market cap of $59.91 billion, a price-to-earnings ratio of -170.66 and a beta of 1.07. Atlassian has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Equities analysts forecast that Atlassian will post -0.34 EPS for the current fiscal year.

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.