Atlassian (NASDAQ:TEAM) Raised to Strong-Buy at Baird R W

Atlassian (NASDAQ:TEAM) was upgraded by equities research analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

TEAM has been the topic of several other research reports. The Goldman Sachs Group raised their price objective on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Oppenheimer raised their price target on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Canaccord Genuity Group upped their price target on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Jefferies Financial Group reduced their price objective on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Finally, Morgan Stanley upped their target price on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $300.00.

Atlassian Stock Performance

Shares of TEAM stock opened at $207.25 on Monday. The company’s fifty day moving average price is $246.50 and its 200-day moving average price is $241.83. The stock has a market cap of $54.30 billion, a PE ratio of -154.66 and a beta of 1.07. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian has a 12 month low of $135.29 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS 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, equities analysts expect that Atlassian will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00. Following the transaction, the president now owns 210,471 shares in the company, valued at $54,690,889.35. This trade represents a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $255.71, for a total transaction of $2,032,383.08. Following the sale, the director now directly owns 381,504 shares of the company’s stock, valued at approximately $97,554,387.84. The trade was a 2.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,033 shares of company stock valued at $67,893,043. 38.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA purchased a new stake in Atlassian in the 4th quarter worth approximately $687,486,000. Voya Investment Management LLC lifted its holdings in Atlassian by 17,941.0% during the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock valued at $528,693,000 after purchasing an additional 2,160,810 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Atlassian by 72.9% in 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 during the period. Invesco Ltd. increased its stake in shares of Atlassian by 265.9% in 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. Finally, Durable Capital Partners LP raised its position in shares of Atlassian by 499.7% during the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company’s stock valued at $383,456,000 after purchasing an additional 1,312,820 shares during the period. Institutional investors own 94.45% of the company’s stock.

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.