Atlassian (NASDAQ:TEAM) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Atlassian (NASDAQ:TEAMGet Rating) from a sell rating to a hold rating in a report issued on Tuesday.

Several other equities analysts have also weighed in on TEAM. Barclays initiated coverage on Atlassian in a report on Thursday, December 15th. They set an equal weight rating and a $155.00 price objective for the company. Wells Fargo & Company reduced their price objective on Atlassian from $250.00 to $200.00 and set an overweight rating on the stock in a research note on Friday, January 6th. Robert W. Baird reduced their price objective on Atlassian from $210.00 to $190.00 and set an outperform rating on the stock in a research note on Thursday, December 22nd. Citigroup cut their target price on Atlassian from $375.00 to $210.00 and set a buy rating on the stock in a research note on Monday, November 7th. Finally, BMO Capital Markets cut their price objective on Atlassian from $160.00 to $151.00 in a research report on Tuesday, November 29th. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $237.95.

Atlassian Stock Down 1.9 %

NASDAQ:TEAM opened at $151.70 on Tuesday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a 50-day simple moving average of $134.24 and a 200 day simple moving average of $188.73. The company has a market cap of $38.76 billion, a PE ratio of -170.45 and a beta of 0.80. Atlassian has a 52-week low of $113.86 and a 52-week high of $352.92.

Atlassian (NASDAQ:TEAMGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.46. The firm had revenue of $807.39 million during the quarter, compared to analysts’ expectations of $806.42 million. Atlassian had a negative return on equity of 71.10% and a negative net margin of 7.60%. The company’s quarterly revenue was up 31.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.01) EPS. On average, sell-side analysts expect that Atlassian will post -0.96 EPS for the current fiscal year.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,614 shares of Atlassian stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $196.74, for a total transaction of $1,694,718.36. Following the transaction, the chief executive officer now directly owns 370,402 shares of the company’s stock, valued at $72,872,889.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Atlassian news, COO Anutthara Bharadwaj sold 1,675 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $134.92, for a total transaction of $225,991.00. Following the completion of the transaction, the chief operating officer now owns 109,754 shares in the company, valued at approximately $14,808,009.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 8,614 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $196.74, for a total transaction of $1,694,718.36. Following the completion of the transaction, the chief executive officer now owns 370,402 shares of the company’s stock, valued at approximately $72,872,889.48. The disclosure for this sale can be found here. Insiders have sold a total of 266,510 shares of company stock worth $36,639,072 over the last 90 days. 43.11% of the stock is currently owned by company insiders.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in Atlassian by 29.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 201,552 shares of the technology company’s stock worth $59,233,000 after buying an additional 46,418 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Atlassian by 6.0% in the 1st quarter. Cetera Investment Advisers now owns 1,755 shares of the technology company’s stock valued at $516,000 after purchasing an additional 100 shares in the last quarter. Baird Financial Group Inc. grew its stake in Atlassian by 7.9% in the 1st quarter. Baird Financial Group Inc. now owns 115,967 shares of the technology company’s stock valued at $34,075,000 after acquiring an additional 8,491 shares during the last quarter. Pearl River Capital LLC acquired a new stake in Atlassian in the 1st quarter valued at about $1,163,000. Finally, USS Investment Management Ltd acquired a new stake in Atlassian in the 1st quarter valued at about $6,015,000. Hedge funds and other institutional investors own 45.50% of the company’s stock.

About Atlassian

(Get Rating)

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.

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Analyst Recommendations for Atlassian (NASDAQ:TEAM)

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