Analysts Set Atlassian Co. (NASDAQ:TEAM) PT at $316.77

Atlassian Co. (NASDAQ:TEAM) has earned an average rating of “Moderate Buy” from the twenty-five ratings firms that are covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $310.18.

TEAM has been the topic of several research reports. Raymond James reissued an “outperform” rating and set a $330.00 price target (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Citigroup lifted their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Mizuho upped their price target on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Finally, Jefferies Financial Group dropped their target price on Atlassian from $400.00 to $330.00 and set a “buy” rating for the company in a report on Monday.

Atlassian Stock Performance

NASDAQ TEAM opened at $216.41 on Friday. Atlassian has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a fifty day moving average of $267.68 and a 200-day moving average of $239.81. The company has a market capitalization of $56.70 billion, a P/E ratio of -161.50 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

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

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $322.31, for a total transaction of $2,561,719.88. Following the sale, the chief executive officer now owns 270,232 shares in the company, valued at approximately $87,098,475.92. The trade was a 2.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph Leo Binz sold 2,587 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $312.09, for a total transaction of $807,376.83. Following the completion of the transaction, the chief financial officer now owns 169,342 shares of the company’s stock, valued at approximately $52,849,944.78. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 270,981 shares of company stock worth $72,069,956. Company insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

A number of hedge funds have recently made changes to their positions in the stock. Murphy & Mullick Capital Management Corp purchased a new position in Atlassian during the fourth quarter valued at $27,000. Colonial Trust Co SC boosted its stake in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after purchasing an additional 69 shares in the last quarter. True Wealth Design LLC grew its position in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. Summit Securities Group LLC bought a new stake in Atlassian during the 4th quarter valued at about $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian in the fourth quarter worth about $39,000. 94.45% of the stock is owned by 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.