Atlassian Co. (NASDAQ:TEAM) Receives $225.19 Consensus PT from Analysts

Shares of Atlassian Co. (NASDAQ:TEAM) have earned a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $225.19.

A number of research analysts have weighed in on TEAM shares. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Truist Financial increased their price objective on shares of Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. KeyCorp began coverage on shares of Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Mizuho increased their price objective on shares of Atlassian from $240.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Finally, The Goldman Sachs Group increased their price objective on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd.

Atlassian Trading Down 2.4 %

Shares of TEAM stock opened at $192.53 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian has a one year low of $128.02 and a one year high of $258.69. The company has a 50 day moving average price of $217.66 and a 200 day moving average price of $207.34.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. Analysts forecast that Atlassian will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $192.73, for a total value of $1,588,287.93. Following the sale, the chief executive officer now directly owns 32,964 shares in the company, valued at $6,353,151.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $201.05, for a total transaction of $305,596.00. Following the transaction, the president now directly owns 163,370 shares of the company’s stock, valued at $32,845,538.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $192.73, for a total value of $1,588,287.93. Following the transaction, the chief executive officer now directly owns 32,964 shares in the company, valued at $6,353,151.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 293,159 shares of company stock worth $64,564,341. 40.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. OFI Invest Asset Management acquired a new position in Atlassian during the third quarter worth about $26,000. Meeder Asset Management Inc. grew its holdings in Atlassian by 151.5% during the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after acquiring an additional 147 shares during the period. Tyler Stone Wealth Management acquired a new position in Atlassian during the second quarter worth about $34,000. Quarry LP acquired a new position in Atlassian during the second quarter worth about $44,000. Finally, Harbour Investments Inc. grew its holdings in Atlassian by 148.8% during the fourth quarter. Harbour Investments Inc. now owns 199 shares of the technology company’s stock worth $47,000 after acquiring an additional 119 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

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.