Atlassian (NASDAQ:TEAM) Price Target Raised to $365.00

Atlassian (NASDAQ:TEAM) had its target price boosted by KeyCorp from $315.00 to $365.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. UBS Group upped their target price on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Oppenheimer upped their target price on Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Canaccord Genuity Group upped their target price on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Cantor Fitzgerald increased their price target on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday. Finally, Wells Fargo & Company increased their price target on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $307.00.

Atlassian Price Performance

TEAM stock opened at $306.78 on Friday. The stock has a 50-day moving average price of $260.51 and a two-hundred day moving average price of $208.44. Atlassian has a 12-month low of $135.29 and a 12-month high of $324.37. 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 has a market cap of $79.90 billion, a PE ratio of -201.83 and a beta of 0.83.

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

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the sale, the chief executive officer now directly owns 429,192 shares in the company, valued at approximately $104,529,711.60. This represents a 3.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 1,659 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the sale, the president now owns 213,511 shares in the company, valued at $52,483,138.91. The trade was a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 249,208 shares of company stock worth $63,572,404. 38.55% of the stock is currently owned by company insiders.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP increased its position in Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares during the period. GAMMA Investing LLC increased its position in Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after acquiring an additional 54 shares during the period. Venturi Wealth Management LLC increased its position in Atlassian by 4.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock valued at $357,000 after acquiring an additional 56 shares during the period. J.W. Cole Advisors Inc. increased its position in Atlassian by 1.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock valued at $963,000 after acquiring an additional 59 shares during the period. Finally, Legacy Wealth Asset Management LLC increased its position in Atlassian by 2.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after acquiring an additional 70 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.