Atlassian (NASDAQ:TEAM) Price Target Raised to $380.00

Atlassian (NASDAQ:TEAM) had its target price increased by Oppenheimer from $300.00 to $380.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other research firms have also recently commented on TEAM. Wells Fargo & Company lifted their price target on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday. Raymond James reissued an “outperform” rating and set a $330.00 target price (up previously from $250.00) on shares of Atlassian in a report on Friday. KeyCorp boosted their target price on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a report on Friday. UBS Group boosted their target price on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group boosted their target price on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $307.00.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $306.78 on Friday. Atlassian has a twelve month low of $135.29 and a twelve month high of $324.37. The stock’s 50 day moving average price is $260.51 and its 200-day moving average price is $208.44. The company has a market capitalization of $79.90 billion, a PE ratio of -201.83 and a beta of 0.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. On average, equities analysts anticipate that Atlassian will post -0.55 EPS for the current year.

Insider Activity

In other Atlassian news, CAO Gene Liu sold 445 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $230.00, for a total transaction of $102,350.00. Following the completion of the transaction, the chief accounting officer now owns 58,723 shares of the company’s stock, valued at approximately $13,506,290. This trade represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $224.33, for a total transaction of $1,782,974.84. Following the transaction, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at $65,970,069.08. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,208 shares of company stock valued at $63,572,404. Insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC grew its stake in shares of Atlassian by 17.5% in the 4th quarter. Global Retirement Partners LLC now owns 787 shares of the technology company’s stock worth $192,000 after buying an additional 117 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Atlassian during the 4th quarter worth about $56,000. Atria Wealth Solutions Inc. purchased a new position in shares of Atlassian during the 4th quarter worth about $4,895,000. Venturi Wealth Management LLC boosted its stake in shares of Atlassian by 4.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after purchasing an additional 56 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Atlassian by 5.4% during the 4th quarter. CIBC Asset Management Inc now owns 33,681 shares of the technology company’s stock worth $8,197,000 after purchasing an additional 1,739 shares during the period. 94.45% of the stock is currently owned by institutional investors.

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.