Atlassian (NASDAQ:TEAM) PT Lowered to $250.00

Atlassian (NASDAQ:TEAM) had its price objective decreased by Barclays from $275.00 to $250.00 in a research note released on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

TEAM has been the subject of several other research reports. Wells Fargo & Company lowered their target price on shares of Atlassian from $285.00 to $250.00 and set an overweight rating for the company in a research note on Friday, June 21st. Oppenheimer dropped their price objective on shares of Atlassian from $250.00 to $230.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. Citigroup decreased their target price on Atlassian from $280.00 to $265.00 and set a buy rating for the company in a research note on Friday, April 12th. Piper Sandler upgraded Atlassian from a neutral rating to an overweight rating and increased their price target for the stock from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Finally, JMP Securities upgraded Atlassian to a hold rating in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Atlassian presently has a consensus rating of Moderate Buy and an average price target of $217.69.

Atlassian Stock Up 1.0 %

Shares of NASDAQ TEAM opened at $138.79 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian has a 1 year low of $135.29 and a 1 year high of $258.69. The stock’s 50-day simple moving average is $168.01 and its 200-day simple moving average is $189.34. The firm has a market cap of $36.13 billion, a price-to-earnings ratio of -221.06 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 18.13%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.21) earnings per share. As a group, equities analysts anticipate that Atlassian will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the transaction, the chief executive officer now owns 294,076 shares in the company, valued at approximately $41,329,441.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92. Following the transaction, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at $41,329,441.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 4,856 shares of Atlassian stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $184.26, for a total value of $894,766.56. Following the completion of the transaction, the president now owns 156,994 shares in the company, valued at approximately $28,927,714.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 274,406 shares of company stock worth $46,639,712. Corporate insiders own 40.48% of the company’s stock.

Institutional Trading of Atlassian

Institutional investors have recently modified their holdings of the business. J.W. Cole Advisors Inc. bought a new position in Atlassian during the second quarter worth $281,000. Oppenheimer Asset Management Inc. raised its holdings in shares of Atlassian by 38.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 40,869 shares of the technology company’s stock valued at $7,229,000 after purchasing an additional 11,262 shares during the period. Leelyn Smith LLC boosted its position in shares of Atlassian by 14.1% during the 2nd quarter. Leelyn Smith LLC now owns 7,135 shares of the technology company’s stock worth $1,262,000 after purchasing an additional 880 shares in the last quarter. Thoroughbred Financial Services LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at about $717,000. Finally, Federated Hermes Inc. bought a new stake in Atlassian in the 2nd quarter valued at about $444,000. Institutional investors own 93.03% 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.