Atlassian (NASDAQ:TEAM) Now Covered by Analysts at Stephens

Stephens initiated coverage on shares of Atlassian (NASDAQ:TEAM) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage set an “equal weight” rating and a $255.00 price target on the technology company’s stock. Stephens’ price target points to a potential upside of 12.75% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Raymond James restated an “outperform” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Macquarie upped their price objective on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. UBS Group upped their price objective on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, The Goldman Sachs Group upped their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $316.77.

Atlassian Stock Performance

Shares of TEAM stock opened at $226.16 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a fifty day moving average price of $271.54 and a 200 day moving average price of $235.36. The company has a market cap of $59.25 billion, a P/E ratio of -168.77 and a beta of 0.91. Atlassian has a 12 month low of $135.29 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Sell-side analysts predict that Atlassian will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the transaction, the president now directly owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $216.90, for a total transaction of $1,723,921.20. Following the completion of the transaction, the chief executive officer now directly owns 71,532 shares of the company’s stock, valued at approximately $15,515,290.80. This trade represents a 10.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 255,085 shares of company stock valued at $69,211,537 over the last ninety days. Corporate insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. 111 Capital purchased a new position in Atlassian in the fourth quarter valued at about $465,000. Wealth Enhancement Advisory Services LLC increased its holdings in Atlassian by 62.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,567 shares of the technology company’s stock valued at $3,059,000 after buying an additional 4,837 shares in the last quarter. Siemens Fonds Invest GmbH increased its holdings in Atlassian by 16.8% in the fourth quarter. Siemens Fonds Invest GmbH now owns 2,011 shares of the technology company’s stock valued at $489,000 after buying an additional 289 shares in the last quarter. Menard Financial Group LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $810,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $25,279,000. 94.45% of the stock is owned by hedge funds and other 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.