Atlassian (NASDAQ:TEAM) Raised to Hold at JMP Securities

JMP Securities upgraded shares of Atlassian (NASDAQ:TEAM) to a hold rating in a research note released on Friday, Zacks.com reports.

TEAM has been the subject of several other research reports. Truist Financial lowered their price objective on Atlassian from $200.00 to $160.00 and set a hold rating for the company in a research note on Friday. StockNews.com downgraded shares of Atlassian from a buy rating to a hold rating in a research note on Friday, July 12th. Canaccord Genuity Group reduced their price objective on shares of Atlassian from $260.00 to $230.00 and set a buy rating on the stock in a research note on Friday, April 26th. Scotiabank decreased their price objective on Atlassian from $210.00 to $175.00 and set a sector perform rating for the company in a report on Friday. Finally, The Goldman Sachs Group raised Atlassian from a neutral rating to a buy rating and lifted their target price for the stock from $200.00 to $230.00 in a report on Friday. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Atlassian has a consensus rating of Moderate Buy and a consensus price target of $217.69.

Atlassian Price Performance

Shares of Atlassian stock traded down $3.00 during trading on Friday, reaching $139.85. 2,630,158 shares of the company’s stock were exchanged, compared to its average volume of 1,767,895. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a market cap of $36.40 billion, a P/E ratio of -224.19 and a beta of 0.74. The firm’s 50-day moving average price is $169.60 and its 200 day moving average price is $191.11.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 18.13% and a negative net margin of 6.89%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. The business’s quarterly revenue was up 20.5% on a year-over-year basis. As a group, research analysts anticipate that Atlassian will post -0.23 earnings per share for the current year.

Insider Activity at Atlassian

In related news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $143.54, for a total transaction of $1,140,855.92. Following the completion of the sale, the chief executive officer now owns 309,972 shares in the company, valued at $44,493,380.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $143.54, for a total transaction of $1,140,855.92. Following the transaction, the chief executive officer now directly owns 309,972 shares in the company, valued at $44,493,380.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 4,856 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $184.26, for a total transaction of $894,766.56. Following the completion of the sale, the president now directly owns 156,994 shares of the company’s stock, valued at $28,927,714.44. The disclosure for this sale can be found here. Insiders have sold a total of 282,940 shares of company stock valued at $48,479,653 over the last 90 days. Insiders own 40.48% of the company’s stock.

Institutional Trading of Atlassian

A number of hedge funds have recently bought and sold shares of the business. Arkadios Wealth Advisors purchased a new stake in shares of Atlassian during the 4th quarter worth approximately $202,000. Vanguard Group Inc. grew its holdings in Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the period. Diversified Trust Co increased its position in Atlassian by 27.6% in the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock worth $2,739,000 after buying an additional 3,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Atlassian by 7.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after buying an additional 10,434 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Atlassian during the 4th quarter valued at $13,805,000. 93.03% of the stock is currently owned by 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.