Atlassian Co. (NASDAQ:TEAM) Given Average Rating of "Moderate Buy" by Brokerages

Atlassian Co. (NASDAQ:TEAM - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eighteen brokerages that are covering the stock, MarketBeat.com reports. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $225.81.

A number of equities analysts have weighed in on TEAM shares. The Goldman Sachs Group upped their price target on shares of Atlassian from $188.00 to $215.00 and gave the stock a "neutral" rating in a research report on Friday, February 2nd. Citigroup dropped their price target on shares of Atlassian from $280.00 to $265.00 and set a "buy" rating for the company in a research report on Friday. Capital One Financial started coverage on shares of Atlassian in a research report on Monday, December 18th. They issued an "equal weight" rating and a $238.00 price target for the company. Truist Financial upped their price target on shares of Atlassian from $180.00 to $220.00 and gave the stock a "hold" rating in a research report on Tuesday, January 16th. Finally, StockNews.com lowered shares of Atlassian from a "buy" rating to a "hold" rating in a research report on Tuesday, March 19th.

Atlassian Stock Performance

TEAM stock traded down $8.12 during midday trading on Friday, reaching $206.53. 1,367,167 shares of the company's stock traded hands, compared to its average volume of 1,701,245. Atlassian has a 52-week low of $128.02 and a 52-week high of $258.69. The stock has a market cap of $53.58 billion, a P/E ratio of -138.88 and a beta of 0.63. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The stock's 50-day moving average is $204.04 and its 200 day moving average is $206.58.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.24). The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. As a group, analysts anticipate that Atlassian will post -0.4 EPS for the current year.

Insider Activity

In other news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $240.11, for a total value of $1,978,746.51. Following the sale, the chief executive officer now owns 420,291 shares of the company's stock, valued at $100,916,072.01. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $240.11, for a total value of $1,978,746.51. Following the sale, the chief executive officer now owns 420,291 shares of the company's stock, valued at $100,916,072.01. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Gene Liu sold 227 shares of the firm's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $48,321.49. Following the completion of the transaction, the chief accounting officer now directly owns 47,066 shares in the company, valued at approximately $10,018,939.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 293,159 shares of company stock valued at $62,296,500. 40.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new position in Atlassian during the 3rd quarter valued at about $26,000. Meeder Asset Management Inc. increased its position in Atlassian by 151.5% during the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company's stock valued at $31,000 after purchasing an additional 147 shares during the period. Tyler Stone Wealth Management purchased a new position in Atlassian during the 2nd quarter valued at about $34,000. Quarry LP purchased a new position in Atlassian during the 2nd quarter valued at about $44,000. Finally, Harbour Investments Inc. increased its position in Atlassian by 148.8% during the 4th quarter. Harbour Investments Inc. now owns 199 shares of the technology company's stock valued at $47,000 after purchasing an additional 119 shares during the period. Hedge funds and other institutional investors own 93.03% of the company's stock.

About Atlassian

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.