Atlassian (NASDAQ:TEAM) Price Target Raised to $317.00

Atlassian (NASDAQ:TEAM) had its price objective raised by Macquarie from $290.00 to $317.00 in a research report released on Friday,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other equities research analysts also recently issued reports on TEAM. Morgan Stanley raised their price objective on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their target price on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group upped their price target on Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a report on Friday, January 31st. KeyCorp boosted their price target on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Mizuho raised their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Stock Down 1.5 %

TEAM opened at $314.28 on Friday. Atlassian has a twelve month low of $135.29 and a twelve month high of $324.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.18 and a current ratio of 1.24. The business has a 50 day moving average price of $265.92 and a 200 day moving average price of $213.13. The firm has a market cap of $82.34 billion, a P/E ratio of -234.54 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last released 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 17.37% and a negative net margin of 7.22%. Research analysts forecast that Atlassian will post -0.34 EPS for the current year.

Insider Buying and Selling at Atlassian

In related news, CAO Gene Liu sold 165 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60. Following the completion of the sale, the chief accounting officer now directly owns 56,423 shares of the company’s stock, valued at $13,871,030.32. The trade was a 0.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $318.91, for a total transaction of $2,534,696.68. Following the completion of the transaction, the chief executive officer now owns 294,076 shares in the company, valued at $93,783,777.16. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 256,705 shares of company stock worth $67,890,023. Insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new stake in shares of Atlassian in the 2nd quarter valued at $1,022,000. GAMMA Investing LLC raised its holdings in 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 buying an additional 96 shares during the period. CWM LLC lifted its stake in Atlassian by 270.6% in the third quarter. CWM LLC now owns 7,875 shares of the technology company’s stock valued at $1,251,000 after buying an additional 5,750 shares in the last quarter. Perpetual Ltd bought a new stake in Atlassian in the 3rd quarter valued at $882,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Atlassian by 227.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,214 shares of the technology company’s stock worth $193,000 after purchasing an additional 843 shares during the period. 94.45% of the stock is 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.