Atlassian (NASDAQ:TEAM) Given New $210.00 Price Target at Barclays

Atlassian (NASDAQ:TEAM) had its price target lowered by analysts at Barclays from $222.00 to $210.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective points to a potential upside of 37.76% from the stock’s current price.

Other analysts also recently issued reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a research report on Thursday, October 15th. Wells Fargo & Company cut their price target on shares of Atlassian from $270.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday. TD Cowen raised their price target on shares of Atlassian from $145.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday, November 3rd. FBN Securities reiterated an “outperform” rating and set a $170.00 price objective on shares of Atlassian in a report on Monday, August 10th. Finally, Citigroup boosted their price objective on shares of Atlassian from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, October 20th. Twenty-four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.48.

Atlassian Trading Down 0.8%

Shares of NASDAQ TEAM traded down $1.25 during midday trading on Monday, hitting $152.44. The company’s stock had a trading volume of 621,837 shares, compared to its average volume of 5,478,740. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. The business’s 50 day moving average is $196.05 and its two-hundred day moving average is $119.57. Atlassian has a 12-month low of $56.01 and a 12-month high of $229.96. The firm has a market cap of $38.59 billion, a P/E ratio of 423.63, a price-to-earnings-growth ratio of 17.13 and a beta of 1.16.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.26. Atlassian had a return on equity of 31.64% and a net margin of 1.28%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the company earned $1.04 EPS. Atlassian’s quarterly revenue was up 23.7% compared to the same quarter last year. As a group, equities research analysts expect that Atlassian will post 0.66 EPS for the current year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CRO Brian Duffy sold 1,851 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $319,204.95. Following the completion of the sale, the executive directly owned 218,223 shares in the company, valued at approximately $37,632,556.35. This represents a 0.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 9,054 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the completion of the sale, the chief financial officer owned 279,218 shares of the company’s stock, valued at $48,151,144.10. This represents a 3.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 22,475 shares of company stock valued at $3,822,643 in the last ninety days. Corporate insiders own 37.63% of the company’s stock.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in TEAM. Activest Wealth Management grew its holdings in Atlassian by 372.4% during the 3rd quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock worth $25,000 after acquiring an additional 108 shares in the last quarter. Reyes Financial Architecture Inc. bought a new stake in shares of Atlassian in the 3rd quarter valued at about $49,000. Fortitude Family Office LLC raised its holdings in shares of Atlassian by 23.0% in the 3rd quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock valued at $52,000 after purchasing an additional 54 shares in the last quarter. Physician Wealth Advisors Inc. raised its holdings in shares of Atlassian by 142.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 337 shares of the technology company’s stock valued at $60,000 after purchasing an additional 198 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Atlassian in the 2nd quarter worth approximately $27,000. 94.45% of the stock is currently owned by institutional investors.

Atlassian Company Profile

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams.

Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration.