T. Rowe Price Associates, Inc. has recently announced that it has increased stake in Atlassian Corporation (NASDAQ:TEAM) by 8.63%. After grabbing 22.69 million shares, the institutional investor is now in possession of 1.8 million shares of the Technology Company. The new investment brought the stake of investor firm to 15.54% having worth around $4.6 billion. Moreover, Jennison Associates LLC increased its share by 2.1 million to have a control over 7.13 million shares. And WCM Investment Management LLC raised its holdings to 2.52 million shares by acquiring 5.88 million shares or 4.03% of the stake.
Atlassian Corporation (TEAM) concluded trading on 11/17/22 at a closing price of $121.69, with 3.09 million shares of worth about $376.26 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -30.36% during that period and on Thursday the price saw a loss of about -5.86%. Currently the company’s common shares owned by public are about 254.48M shares, out of which, 145.95M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 25 analysts are covering the TEAM stock and their offered price forecasts bring an average price target of $201.15. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $470.00 and could fall to a lowest price of $147.00. The stock’s current price level is 41.61% above of average price target set by the analysts, while a rise to estimated low would result in gain of 17.22% for the stock. However, touching the estimated high of $470.00 would mean a gain of 74.11% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 525 times over the past 12 months. They bought 68,379 shares in 1 of the transactions. In 524 selling transactions, insiders dumped 413,472 shares.
T Rowe Price New Horizons Fund, Invesco QQQ Trust, and T Rowe Price Growth Stock Fund are the top 3 mutual funds which are holding stakes in Atlassian Corporation T Rowe Price New Horizons Fund is currently holding 4.46 million shares of worth totaling $903.99 million. The company recently came selling -0.15 million shares which brought its stake up to 3.05% of the company’s outstanding shares. Invesco QQQ Trust sold 1920.0 shares, after which its hold over company’s outstanding shares shrunk to 1.44%, leaving 2.1 million shares with the mutual fund that have a worth of about $425.31 million. T Rowe Price Growth Stock Fund, after buying 1.71 million shares, have now control over 1.17% of the stake in the company. It holds 0.25 million shares of worth $345.73 million.
Atlassian Corporation (NASDAQ: TEAM) started trading at $124.70, below -$4.57 from concluding price of the previous day. However, the stock later moved at a day high price of 128.50, or with a loss of -5.86%. Stock saw a price change of -13.60% in past 5 days and over the past one month there was a price change of -35.18%. Year-to-date (YTD), TEAM shares are showing a performance of -68.08% which decreased to -72.36% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $114.11 but also hit the highest price of $448.00 during that period. The average intraday trading volume for Atlassian Corporation shares is 2.10 million. The stock is currently trading -26.23% below its 20-day simple moving average (SMA20), while that difference is down -39.52% for SMA50 and it goes to -47.46% lower than SMA200.
T. Rowe Price Associates, Inc. acquired 22.69 million shares of Atlassian Corporation having value of about $4.6 billion. Data submitted at the U.S SEC by T. Rowe Price Associates, Inc. revealed that the firm now holds 1.8 million shares in the company valued at close to $219473269.36, or have control over 8.63% stake in the company. Atlassian Corporation (NASDAQ: TEAM) currently have 254.48M outstanding shares and institutions hold larger chunk of about 89.50% of that. Holding of mutual funds in the company is about 39.91% while other institutional holders and individual stake holders have control over 46.40% and 0.58% of the stake respectively.
The stock has a current market capitalization of $30.76B and its 3Y-monthly beta is at 0.89. It has posted earnings per share of -$2.43 in the same period. It has Quick Ratio of 1.20 while making debt-to-equity ratio of 3.92. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TEAM, volatility over the week remained 6.94% while standing at 7.42% over the month.
Analysts are in expectations that Atlassian Corporation (TEAM) stock would likely to be making an EPS of $0.38 in the current quarter, while forecast for next quarter EPS is $0.43 and it is $2.34 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.37 which is $0.49 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.46 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 13.10% while it is estimated to increase by 39.01% in next year. EPS is likely to shrink at an annualized rate of 20.00% for next 5-years, compared to annual growth of 35.51% made by the stock over the past 5-years.
Analysts at 25 brokerage firms have issued recommendations for the Atlassian Corporation (TEAM)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.90. Out of those 25 Wall Street analysts, 15 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on November 04, 2022 offering a Neutral rating for the stock and assigned a target price range of between $283 and $148 to it. Coverage by Macquarie stated Atlassian Corporation (TEAM) stock as a Neutral in their note to investors on November 04, 2022, suggesting a price target of $147 for the stock. On July 20, 2022, Bernstein Initiated their recommendations, while on June 27, 2022, Goldman Upgrade their ratings for the stock with a price target of $300. Stock get a Buy rating from Citigroup on January 25, 2022.