Atlassian (NASDAQ:TEAM) PT Lowered to $265.00

Atlassian (NASDAQ:TEAM - Get Free Report) had its price objective cut by equities researchers at Citigroup from $280.00 to $265.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. Citigroup's target price indicates a potential upside of 28.31% from the stock's current price.

A number of other equities research analysts have also recently commented on the stock. StockNews.com cut shares of Atlassian from a "buy" rating to a "hold" rating in a research note on Tuesday, March 19th. Truist Financial lifted their price target on shares of Atlassian from $180.00 to $220.00 and gave the company a "hold" rating in a research note on Tuesday, January 16th. William Blair reissued an "outperform" rating on shares of Atlassian in a research note on Friday, February 2nd. Mizuho lifted their price target on shares of Atlassian from $240.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, January 16th. Finally, Barclays raised shares of Atlassian from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $235.00 to $275.00 in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Atlassian presently has a consensus rating of "Hold" and an average price target of $225.81.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $8.12 during midday trading on Friday, reaching $206.53. 1,367,167 shares of the stock were exchanged, compared to its average volume of 1,701,245. The firm has a market cap of $53.58 billion, a price-to-earnings ratio of -138.88 and a beta of 0.63. Atlassian has a twelve month low of $128.02 and a twelve month high of $258.69. The firm has a 50-day simple moving average of $204.04 and a two-hundred day simple moving average of $206.58. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.24). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. As a group, analysts anticipate that Atlassian will post -0.4 EPS for the current fiscal year.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $201.81, for a total transaction of $1,663,116.21. Following the transaction, the chief executive officer now owns 448,860 shares in the company, valued at approximately $90,584,436.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, President Anutthara Bharadwaj sold 2,470 shares of the business's stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $240.55, for a total value of $594,158.50. Following the sale, the president now directly owns 171,674 shares in the company, valued at approximately $41,296,180.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the business's stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $201.81, for a total transaction of $1,663,116.21. Following the completion of the sale, the chief executive officer now owns 448,860 shares in the company, valued at $90,584,436.60. The disclosure for this sale can be found here. Insiders have sold a total of 293,159 shares of company stock worth $62,296,500 in the last quarter. Company insiders own 40.48% of the company's stock.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Opal Wealth Advisors LLC raised its holdings in Atlassian by 11.3% in the 1st quarter. Opal Wealth Advisors LLC now owns 1,383 shares of the technology company's stock valued at $270,000 after buying an additional 140 shares during the period. MJP Associates Inc. ADV increased its stake in shares of Atlassian by 60.0% during the first quarter. MJP Associates Inc. ADV now owns 2,063 shares of the technology company's stock worth $403,000 after buying an additional 774 shares during the period. David J Yvars Group purchased a new stake in shares of Atlassian during the first quarter worth approximately $1,745,000. Gulf International Bank UK Ltd increased its stake in shares of Atlassian by 0.8% during the first quarter. Gulf International Bank UK Ltd now owns 12,596 shares of the technology company's stock worth $2,457,000 after buying an additional 97 shares during the period. Finally, RFG Advisory LLC increased its stake in shares of Atlassian by 5.7% during the first quarter. RFG Advisory LLC now owns 1,952 shares of the technology company's stock worth $381,000 after buying an additional 106 shares during the period. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Company Profile

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.