Atlassian (NASDAQ:TEAM) Upgraded to “Buy” at StockNews.com

Atlassian (NASDAQ:TEAM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other brokerages also recently commented on TEAM. TD Cowen cut their price target on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday. Mizuho reduced their price target on Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Canaccord Genuity Group dropped their price objective on Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a report on Friday. Oppenheimer cut their price objective on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, The Goldman Sachs Group lifted their target price on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $223.22.

Atlassian Trading Down 1.3 %

Shares of NASDAQ:TEAM traded down $2.38 during trading on Monday, hitting $177.07. The company had a trading volume of 2,194,464 shares, compared to its average volume of 1,747,496. The stock has a market cap of $45.93 billion, a price-to-earnings ratio of -281.06 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The company has a fifty day simple moving average of $199.36 and a two-hundred day simple moving average of $206.52. Atlassian has a one year low of $128.02 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. During the same quarter in the prior year, the firm posted ($0.40) EPS. Atlassian’s quarterly revenue was up 29.9% compared to the same quarter last year. As a group, equities analysts forecast that Atlassian will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In other Atlassian news, CAO Gene Liu sold 227 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the completion of the sale, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Gene Liu sold 227 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the sale, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $219.24, for a total value of $1,806,756.84. Following the transaction, the chief executive officer now owns 313,158 shares in the company, valued at $68,656,759.92. The disclosure for this sale can be found here. Insiders sold 300,450 shares of company stock worth $61,106,939 in the last three months. 40.48% of the stock is owned by insiders.

Institutional Trading of Atlassian

Institutional investors have recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new stake in Atlassian during the 3rd quarter worth about $26,000. Carmel Capital Partners LLC lifted its holdings in shares of Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after buying an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Atlassian by 255.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after buying an additional 291 shares during the period. Finally, Operose Advisors LLC purchased a new position in Atlassian during the 3rd quarter worth approximately $99,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

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.