Atlassian (NASDAQ:TEAM) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Atlassian (NASDAQ:TEAM) to a hold rating in a research report report published on Thursday morning, MarketBeat reports. Cantor Fitzgerald currently has $264.00 price objective on the technology company’s stock.

TEAM has been the subject of a number of other research reports. Wells Fargo & Company raised their target price on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. UBS Group raised their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Mizuho lifted their price target on Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley boosted their price objective on shares of Atlassian from $259.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Canaccord Genuity Group boosted their price objective on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $272.00.

Atlassian Stock Performance

Shares of TEAM opened at $252.36 on Thursday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The company’s 50 day simple moving average is $256.36 and its 200-day simple moving average is $202.09. Atlassian has a 12-month low of $135.29 and a 12-month high of $287.97. The firm has a market cap of $65.72 billion, a PE ratio of -166.03 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned ($0.07) earnings per share. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, equities analysts predict that Atlassian will post -0.55 EPS for the current year.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $253.01, for a total value of $2,010,923.48. Following the completion of the transaction, the director now owns 389,452 shares in the company, valued at $98,535,250.52. This represents a 2.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the transaction, the president now owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. This represents a 0.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 280,136 shares of company stock valued at $67,814,587. 38.55% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in TEAM. Federated Hermes Inc. bought a new position in Atlassian during the second quarter worth $444,000. Dimensional Fund Advisors LP lifted its stake in Atlassian by 4.1% during the second quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock worth $26,597,000 after purchasing an additional 5,878 shares during the last quarter. Amalgamated Bank lifted its stake in Atlassian by 3.5% during the second quarter. Amalgamated Bank now owns 10,608 shares of the technology company’s stock worth $1,876,000 after purchasing an additional 363 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Atlassian by 4.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,389 shares of the technology company’s stock worth $1,830,000 after purchasing an additional 440 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Atlassian by 9.7% during the second quarter. Hsbc Holdings PLC now owns 143,272 shares of the technology company’s stock worth $25,284,000 after purchasing an additional 12,675 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other 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.