Atlassian Co. (NASDAQ:TEAM) Short Interest Update

Atlassian Co. (NASDAQ:TEAM) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 3,100,000 shares, a decline of 19.1% from the July 15th total of 3,830,000 shares. Based on an average trading volume of 1,780,000 shares, the short-interest ratio is presently 1.7 days.

Analysts Set New Price Targets

TEAM has been the subject of several recent analyst reports. Barclays decreased their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. BMO Capital Markets lowered their price objective on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research note on Friday, August 2nd. Oppenheimer cut their target price on shares of Atlassian from $250.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Truist Financial decreased their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Finally, JMP Securities raised shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

Atlassian Price Performance

Shares of NASDAQ TEAM traded up $7.38 during mid-day trading on Friday, hitting $154.21. 2,503,515 shares of the stock were exchanged, compared to its average volume of 2,282,891. Atlassian has a twelve month low of $135.29 and a twelve month high of $258.69. The stock’s fifty day simple moving average is $165.79 and its two-hundred day simple moving average is $184.71. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $40.14 billion, a P/E ratio of -244.78 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 18.13% and a negative net margin of 6.89%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) EPS. As a group, analysts forecast that Atlassian will post -0.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Friday, August 9th. The shares were sold at an average price of $141.23, for a total value of $1,122,496.04. Following the completion of the sale, the chief executive officer now owns 278,180 shares of the company’s stock, valued at approximately $39,287,361.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $141.23, for a total value of $1,122,496.04. Following the completion of the sale, the chief executive officer now directly owns 278,180 shares in the company, valued at approximately $39,287,361.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $157.52, for a total transaction of $1,298,122.32. Following the sale, the chief executive officer now directly owns 127,461 shares of the company’s stock, valued at $20,077,656.72. The disclosure for this sale can be found here. Insiders sold 257,766 shares of company stock valued at $43,257,726 over the last ninety days. Corporate insiders own 40.48% of the company’s stock.

Hedge Funds Weigh In On Atlassian

A number of institutional investors have recently modified their holdings of the stock. Asset Dedication LLC lifted its holdings in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares during the period. Hollencrest Capital Management raised its stake in Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after buying an additional 119 shares during the period. Trust Co. of Vermont lifted its holdings in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new position in Atlassian in the second quarter valued at about $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian during the first quarter worth about $40,000. 93.03% of the stock is 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.