Atlassian (NASDAQ:TEAM) Earns “Outperform” Rating from Raymond James

Raymond James reissued their outperform rating on shares of Atlassian (NASDAQ:TEAM) in a report issued on Friday morning,Benzinga reports. They currently have a $330.00 target price on the technology company’s stock, up from their previous target price of $250.00.

Several other analysts also recently weighed in on TEAM. UBS Group lifted their target price on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Morgan Stanley lifted their target price on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday. Oppenheimer lifted their target price on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, January 6th. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $255.00 to $292.00 in a report on Friday, January 10th. Finally, Macquarie began coverage on shares of Atlassian in a report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 target price for the company. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $307.00.

Atlassian Stock Up 14.9 %

TEAM stock opened at $306.78 on Friday. The firm has a market cap of $79.90 billion, a PE ratio of -201.83 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The firm’s 50 day moving average price is $260.51 and its 200-day moving average price is $208.44. Atlassian has a one year low of $135.29 and a one year high of $324.37.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results 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 net margin of 8.59% and a negative return on equity of 23.35%. On average, equities research analysts anticipate that Atlassian will post -0.55 EPS for the current year.

Insider Activity

In related 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 transaction 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 $54,690,889.35. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $224.33, for a total transaction of $1,782,974.84. Following the transaction, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at $65,970,069.08. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 249,208 shares of company stock valued at $63,572,404. Insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TEAM. GAMMA Investing LLC raised its holdings in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC increased its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares in the last quarter. Avion Wealth increased its holdings in Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares in the last quarter. Reston Wealth Management LLC purchased a new position in Atlassian in the third quarter valued at about $48,000. Finally, Kestra Investment Management LLC purchased a new position in Atlassian in the fourth quarter valued at about $56,000. 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.