A share of Atlassian Corporation Plc (NASDAQ:TEAM) closed at $232.30 per share on Wednesday, down from $235.19 day before. While Atlassian Corporation Plc has underperformed by -1.23%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, TEAM fell by -42.78%, with highs and lows ranging from $483.13 to $159.54, whereas the simple moving average fell by -11.34% in the last 200 days.
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On July 20, 2022, Bernstein started tracking Atlassian Corporation Plc (NASDAQ: TEAM) recommending Outperform. A report published by Goldman on June 27, 2022, Upgraded its rating to ‘Buy’ for TEAM. Citigroup also rated TEAM shares as ‘Buy’, setting a target price of $430 on the company’s shares in an initiating report dated January 25, 2022. KeyBanc Capital Markets Initiated an Overweight rating on December 22, 2021, and assigned a price target of $442. Goldman initiated its ‘Neutral’ rating for TEAM, as published in its report on December 16, 2021. Wolfe Research’s report from October 29, 2021 suggests a price prediction of $500 for TEAM shares, giving the stock a ‘Outperform’ rating. Wells Fargo also rated the stock as ‘Overweight’.
Analysis of Atlassian Corporation Plc (TEAM)
Further, the quarter-over-quarter increase in sales is 35.80%, showing a positive trend in the upcoming months.
Atlassian Corporation Plc’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -334.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and TEAM is registering an average volume of 1.75M. On a monthly basis, the volatility of the stock is set at 3.94%, whereas on a weekly basis, it is put at 3.81%, with a loss of -9.11% over the past seven days. Furthermore, long-term investors anticipate a median target price of $323.55, showing growth from the present price of $232.30, which can serve as yet another indication of whether TEAM is worth investing in or should be passed over.
How Do You Analyze Atlassian Corporation Plc Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.56%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 90.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in TEAM shares?
The recent increase in stakes in TEAM appears to be a result of several institutional investors and hedge funds increasing their positions. T. Rowe Price Associates, Inc.’s position in TEAM has increased by 8.63% in the first quarter. The company now owns 22,693,727 shares of the stock, with a value of $5.62 billion, following the purchase of 1,803,544 additional shares during the last quarter. Sands Capital Management LLC made another increased to its shares in TEAM during the first quarter, upping its stake by 6.51%. During the last quarter, the company dropped down 397,595 additional shares for a total stake of worth $1.61 billion, bringing number of shares owned by the company to 6,504,421.
During the first quarter, Baillie Gifford & Co. subtracted a -265,956 position in TEAM. Janus Henderson Investors US LLC purchased an additional 2.13 million shares in the last quarter, increasing its holdings by 65.89%, now holding 5.35 million shares worth $1.33 billion. At the end of the first quarter, Artisan Partners LP increased its TEAM holdings by 34.09% and now holds 5.2 million TEAM shares valued at $1.29 billion with the added 1.32 million shares during the period. TEAM shares are owned by institutional investors to the tune of 90.70% at present.