Atlassian Co. (NASDAQ:TEAM) Receives $319.71 Average Price Target from Analysts

Shares of Atlassian Co. (NASDAQ:TEAM) have been given an average recommendation of “Moderate Buy” by the twenty-four analysts that are currently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $319.71.

Several equities research analysts have recently weighed in on the company. Oppenheimer raised their target price on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. KeyCorp raised their target price on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Scotiabank lifted their price target on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Citigroup lifted their price target on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Barclays lifted their price target on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd.

Atlassian Stock Performance

Shares of TEAM opened at $276.73 on Monday. The stock has a 50-day simple moving average of $276.41 and a 200-day simple moving average of $230.96. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $72.50 billion, a PE ratio of -206.51 and a beta of 0.87. Atlassian has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. On average, analysts predict that Atlassian will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $269.35, for a total value of $2,140,793.80. Following the sale, the director now directly owns 111,272 shares in the company, valued at $29,971,113.20. The trade was a 6.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the sale, the chief executive officer now owns 429,192 shares in the company, valued at approximately $104,529,711.60. This trade represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 264,553 shares of company stock worth $72,913,406 over the last three months. 38.55% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlassian

A number of institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. boosted its position in Atlassian by 0.9% during the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after purchasing an additional 78,454 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. State Street Corp boosted its position in Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after purchasing an additional 8,957 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Atlassian during the fourth quarter worth $687,486,000. Finally, Invesco Ltd. boosted its position in Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock worth $595,171,000 after purchasing an additional 1,777,179 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.