Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) shares shot up 8.6% during trading on Thursday . The stock traded as high as $180.90 and last traded at $182.8910. Approximately 959,488 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 6,187,105 shares. The stock had previously closed at $168.47.
Analysts Set New Price Targets
TEAM has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Atlassian from $140.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Barclays boosted their target price on shares of Atlassian from $112.00 to $172.00 and gave the company an "overweight" rating in a research report on Monday, August 10th. BTIG Research upped their target price on shares of Atlassian from $130.00 to $180.00 and gave the company a "buy" rating in a report on Friday, August 7th. BMO Capital Markets increased their price target on shares of Atlassian from $95.00 to $175.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Finally, Zacks Research cut shares of Atlassian from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Twenty-five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.63.
Get Our Latest Stock Analysis on TEAM
Atlassian Trading Up 7.2%
The stock has a 50 day moving average of $110.69 and a 200-day moving average of $90.71. The company has a market capitalization of $45.82 billion, a P/E ratio of -947.67, a P/E/G ratio of 13.08 and a beta of 1.05. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93.
Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.37. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The company had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter last year, the business earned $0.98 EPS. The firm's revenue was up 27.6% compared to the same quarter last year. On average, research analysts predict that Atlassian Corporation PLC will post 0.94 EPS for the current year.
Insider Activity
In related news, CFO James Chuong sold 9,054 shares of the company's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $1,561,362.30. Following the completion of the transaction, the chief financial officer owned 279,218 shares of the company's stock, valued at approximately $48,151,144.10. This represents a 3.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 1,125 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total value of $196,875.00. Following the completion of the sale, the chief accounting officer owned 56,807 shares of the company's stock, valued at $9,941,225. The trade was a 1.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 30,349 shares of company stock worth $4,418,849 in the last three months. Company insiders own 36.66% of the company's stock.
Institutional Trading of Atlassian
Several institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. California State Teachers Retirement System increased its holdings in Atlassian by 7,498.4% in the 2nd quarter. California State Teachers Retirement System now owns 17,767,858 shares of the technology company's stock valued at $1,382,162,000 after acquiring an additional 17,534,021 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Atlassian by 291.4% during the 4th quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company's stock valued at $1,256,535,000 after purchasing an additional 5,769,788 shares during the last quarter. Norges Bank bought a new position in shares of Atlassian during the 4th quarter valued at about $323,526,000. Morgan Stanley grew its position in shares of Atlassian by 52.4% during the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company's stock valued at $781,841,000 after purchasing an additional 1,657,309 shares in the last quarter. Finally, Carmignac Gestion grew its position in shares of Atlassian by 115.8% during the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company's stock valued at $177,707,000 after purchasing an additional 1,397,402 shares in the last quarter. Institutional investors own 94.45% of the company's stock.
Atlassian Company Profile
(
Get Free Report)
Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.
Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Atlassian, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Atlassian wasn't on the list.
While Atlassian currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
