Atlassian (NASDAQ:TEAM) Given New $250.00 Price Target at Macquarie

Atlassian (NASDAQ:TEAM - Get Free Report) had its price target dropped by investment analysts at Macquarie from $270.00 to $250.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the technology company's stock. Macquarie's target price suggests a potential upside of 18.19% from the stock's current price.

Several other analysts also recently weighed in on TEAM. StockNews.com downgraded Atlassian from a "buy" rating to a "hold" rating in a research report on Monday, March 31st. Scotiabank boosted their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and set a $330.00 target price (up from $250.00) on shares of Atlassian in a research report on Friday, January 31st. BMO Capital Markets lowered their price target on Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a report on Friday. Finally, Citigroup increased their price objective on Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, January 17th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus price target of $295.48.

Atlassian Trading Down 7.7 %

TEAM traded down $17.56 on Friday, hitting $211.52. The company had a trading volume of 3,977,976 shares, compared to its average volume of 2,059,358. Atlassian has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The business's fifty day simple moving average is $224.12 and its 200 day simple moving average is $244.94. The company has a market cap of $55.42 billion, a PE ratio of -157.85 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. Equities research analysts expect that Atlassian will post -0.34 EPS for the current year.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $311.20, for a total transaction of $2,473,417.60. Following the sale, the chief executive officer now owns 309,972 shares in the company, valued at approximately $96,463,286.40. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph Leo Binz sold 2,587 shares of the business's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.09, for a total transaction of $807,376.83. Following the sale, the chief financial officer now directly owns 169,342 shares in the company, valued at approximately $52,849,944.78. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 260,734 shares of company stock valued at $64,629,600. Corporate insiders own 38.55% of the company's stock.

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Murphy & Mullick Capital Management Corp purchased a new position in shares of Atlassian in the fourth quarter worth about $27,000. Clean Yield Group increased its holdings in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after buying an additional 93 shares during the period. Colonial Trust Co SC raised its position in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after buying an additional 69 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Atlassian during the 4th quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Atlassian in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 94.45% 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.

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