Atlassian Co. (NASDAQ:TEAM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Atlassian Co. (NASDAQ:TEAM) have earned a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $202.19.

Several research analysts have weighed in on TEAM shares. UBS Group began coverage on shares of Atlassian in a research report on Monday, October 2nd. They set a “neutral” rating and a $225.00 target price on the stock. Barclays increased their price target on shares of Atlassian from $165.00 to $195.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Oppenheimer raised their target price on shares of Atlassian from $200.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, August 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $185.00 price target on shares of Atlassian in a report on Friday, August 4th. Finally, StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Saturday, November 11th.

Insider Transactions at Atlassian

In other news, insider Gene Liu sold 185 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $184.97, for a total value of $34,219.45. Following the completion of the sale, the insider now directly owns 52,021 shares in the company, valued at $9,622,324.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $192.45, for a total transaction of $1,585,980.45. Following the transaction, the chief executive officer now owns 214,266 shares of the company’s stock, valued at $41,235,491.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gene Liu sold 185 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $184.97, for a total transaction of $34,219.45. Following the transaction, the insider now directly owns 52,021 shares in the company, valued at approximately $9,622,324.37. The disclosure for this sale can be found here. Over the last three months, insiders sold 330,760 shares of company stock worth $63,768,141. 40.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of TEAM. WCM Investment Management LLC increased its holdings in Atlassian by 0.3% in the 1st quarter. WCM Investment Management LLC now owns 9,532,236 shares of the technology company’s stock valued at $1,631,633,000 after buying an additional 28,479 shares during the period. BlackRock Inc. increased its holdings in Atlassian by 12.4% in the 2nd quarter. BlackRock Inc. now owns 8,501,011 shares of the technology company’s stock valued at $1,426,555,000 after buying an additional 937,538 shares during the period. Artisan Partners Limited Partnership increased its holdings in Atlassian by 1.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock valued at $1,218,765,000 after buying an additional 63,903 shares during the period. Brown Advisory Inc. increased its holdings in Atlassian by 18.8% in the 2nd quarter. Brown Advisory Inc. now owns 3,652,205 shares of the technology company’s stock valued at $612,876,000 after buying an additional 579,041 shares during the period. Finally, State Street Corp increased its holdings in Atlassian by 2.5% in the 2nd quarter. State Street Corp now owns 3,052,936 shares of the technology company’s stock valued at $512,313,000 after buying an additional 73,127 shares during the period. Institutional investors own 53.36% of the company’s stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $186.10 on Tuesday. The company has a 50-day simple moving average of $190.22 and a 200-day simple moving average of $180.93. Atlassian has a one year low of $113.86 and a one year high of $215.77. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a market capitalization of $48.02 billion, a price-to-earnings ratio of -94.95 and a beta of 0.64.

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.