Atlassian (NASDAQ:TEAM) Price Target Raised to $250.00

Atlassian (NASDAQ:TEAM) had its price target raised by Truist Financial from $200.00 to $250.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

A number of other equities research analysts also recently weighed in on TEAM. Jefferies Financial Group raised their price objective on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Scotiabank raised their price target on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Robert W. Baird boosted their price objective on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Canaccord Genuity Group increased their target price on shares of Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company lifted their price target on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $256.50.

Atlassian Trading Down 0.2 %

NASDAQ:TEAM opened at $278.65 on Thursday. The firm has a 50-day simple moving average of $229.09 and a 200-day simple moving average of $186.77. Atlassian has a one year low of $135.29 and a one year high of $287.97. The firm has a market cap of $72.57 billion, a P/E ratio of -183.32 and a beta of 0.80. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. Equities analysts anticipate that Atlassian will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Gene Liu sold 1,024 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $230,860.80. Following the sale, the chief accounting officer now owns 59,168 shares in the company, valued at $13,339,425.60. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $165.03, for a total value of $1,311,658.44. Following the sale, the chief executive officer now directly owns 79,480 shares in the company, valued at approximately $13,116,584.40. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 276,590 shares of company stock worth $58,284,749. 38.55% of the stock is owned by company insiders.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Asset Dedication LLC boosted its holdings in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after buying an additional 108 shares in the last quarter. Rothschild Investment LLC purchased a new position in Atlassian in the second quarter valued at $36,000. True Wealth Design LLC raised its position in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares during the period. GAMMA Investing LLC boosted its stake in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares in the last quarter. Finally, Reston Wealth Management LLC acquired a new stake in shares of Atlassian during the 3rd quarter valued at about $48,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

About Atlassian

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.