Atlassian Co. (NASDAQ:TEAM) Short Interest Down 13.4% in February

Atlassian Co. (NASDAQ:TEAM) was the recipient of a large decline in short interest in February. As of February 28th, there was short interest totalling 3,090,000 shares, a decline of 13.4% from the February 13th total of 3,570,000 shares. Based on an average daily volume of 2,090,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.9% of the company’s stock are short sold.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Jefferies Financial Group upped their price objective on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Mizuho upped their price objective on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Citigroup upped their price objective on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and an average target price of $316.77.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total value of $1,723,921.20. Following the sale, the chief executive officer now directly owns 71,532 shares of the company’s stock, valued at $15,515,290.80. The trade was a 10.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the sale, the president now directly owns 211,991 shares in the company, valued at approximately $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 264,553 shares of company stock valued at $71,627,261 in the last ninety days. 38.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atlassian

A number of institutional investors have recently bought and sold shares of TEAM. Massachusetts Financial Services Co. MA purchased a new stake in Atlassian in the 4th quarter worth $687,486,000. Voya Investment Management LLC boosted its holdings in shares of Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock valued at $528,693,000 after purchasing an additional 2,160,810 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after purchasing an additional 1,777,179 shares during the last quarter. Finally, Durable Capital Partners LP boosted its holdings in shares of Atlassian by 499.7% during the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company’s stock valued at $383,456,000 after purchasing an additional 1,312,820 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Trading Up 4.7 %

Shares of TEAM stock opened at $229.86 on Thursday. Atlassian has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a market capitalization of $60.22 billion, a PE ratio of -171.54 and a beta of 0.91. The stock has a fifty day simple moving average of $271.91 and a two-hundred day simple moving average of $235.42.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, analysts predict that Atlassian will post -0.34 EPS for the current fiscal year.

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.