Key Points
- Atlassian CEO Michael Cannon-Brookes bought 13,400 shares at an average price of $150.30, spending about $2.01 million. The purchase increased his direct stake by 4.86% to 289,340 shares.
- Atlassian reported quarterly earnings of $1.65 per share, beating the $1.39 consensus estimate, while revenue of $1.77 billion also topped forecasts and rose 23.7% year over year.
- Analysts’ consensus rating is Moderate Buy, with an average price target of $209.48; recent research includes both target increases and cuts.
Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes purchased 13,400 shares of the stock in a transaction dated Wednesday, November 11th. The stock was purchased at an average cost of $150.30 per share, for a total transaction of $2,014,020.00. Following the completion of the purchase, the chief executive officer directly owned 289,340 shares of the company's stock, valued at approximately $43,487,802. The trade was a 4.86% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Atlassian Stock Down 0.1%
Shares of TEAM opened at $152.29 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.72. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $229.96. The stock has a market capitalization of $38.55 billion, a price-to-earnings ratio of 105.13, a PEG ratio of 15.80 and a beta of 1.16. The stock has a 50 day moving average price of $193.05 and a 200 day moving average price of $120.01.
Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The technology company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.39 by $0.26. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. Atlassian had a return on equity of 33.53% and a net margin of 1.28%. The firm's revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.04 EPS. Equities research analysts forecast that Atlassian Corporation PLC will post 0.69 earnings per share for the current fiscal year.
Atlassian News Summary
Investors following TEAM have been watching these news items:
Institutional Trading of Atlassian
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Carmignac Gestion raised its holdings in shares of Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company's stock worth $177,707,000 after acquiring an additional 1,397,402 shares during the period. First Trust Advisors LP boosted its position in shares of Atlassian by 48.4% during the 1st quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company's stock valued at $160,377,000 after acquiring an additional 766,922 shares during the last quarter. Ieq Capital LLC boosted its position in shares of Atlassian by 1.9% during the 3rd quarter. Ieq Capital LLC now owns 634,053 shares of the technology company's stock valued at $113,679,000 after acquiring an additional 12,099 shares during the last quarter. KBC Group NV boosted its position in shares of Atlassian by 1,691.2% during the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company's stock valued at $98,281,000 after acquiring an additional 1,359,624 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Atlassian by 111.7% in the third quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company's stock valued at $84,105,000 after purchasing an additional 247,540 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
TEAM has been the subject of a number of recent research reports. TD Cowen increased their target price on shares of Atlassian from $145.00 to $180.00 and gave the company a "hold" rating in a research report on Tuesday, November 3rd. Citigroup lowered their price target on shares of Atlassian from $245.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday. Morgan Stanley raised their target price on shares of Atlassian from $120.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. KeyCorp raised their target price on shares of Atlassian from $185.00 to $235.00 and gave the stock an "overweight" rating in a research note on Monday, October 19th. Finally, Raymond James Financial set a $180.00 target price on Atlassian in a report on Friday, August 7th. Twenty-four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $209.48.
Read Our Latest Analysis on Atlassian
About Atlassian
(
Get Free Report)
Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams. Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration. Atlassian also offers cloud-based products and tools for distributed teams.
Further Reading
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