Atlassian (NASDAQ:TEAM) PT Lowered to $250.00 at Oppenheimer

Atlassian (NASDAQ:TEAM - Free Report) had its price objective cut by Oppenheimer from $300.00 to $250.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the technology company's stock.

A number of other equities research analysts have also commented on the company. Truist Financial dropped their target price on Atlassian from $220.00 to $200.00 and set a hold rating on the stock in a research report on Friday. TD Cowen decreased their price target on Atlassian from $220.00 to $210.00 and set a hold rating for the company in a report on Friday. Citigroup decreased their price target on Atlassian from $280.00 to $265.00 and set a buy rating for the company in a report on Friday, April 12th. Barclays raised Atlassian from an equal weight rating to an overweight rating and boosted their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Finally, Canaccord Genuity Group decreased their price target on Atlassian from $260.00 to $230.00 and set a buy rating for the company in a report on Friday. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $223.22.

Atlassian Stock Down 9.6 %

Shares of TEAM stock traded down $18.96 during trading hours on Friday, reaching $179.45. 5,866,245 shares of the company's stock were exchanged, compared to its average volume of 1,741,965. The stock's fifty day moving average price is $199.98 and its two-hundred day moving average price is $206.53. The stock has a market cap of $46.55 billion, a PE ratio of -120.44 and a beta of 0.63. Atlassian has a 1 year low of $128.02 and a 1 year high of $258.69. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results 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 during the quarter, compared to analysts' expectations of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. Research analysts predict that Atlassian will post -0.4 EPS for the current year.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 4,139 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $881,068.93. Following the completion of the transaction, the president now directly owns 167,535 shares of the company's stock, valued at approximately $35,663,175.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the company's stock in a transaction on Friday, April 19th. The stock was sold at an average price of $191.53, for a total value of $1,578,398.73. Following the completion of the sale, the chief executive officer now directly owns 391,173 shares in the company, valued at approximately $74,921,364.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 4,139 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $881,068.93. Following the transaction, the president now owns 167,535 shares of the company's stock, valued at $35,663,175.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 300,450 shares of company stock valued at $61,721,553. 40.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlassian

A number of hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Atlassian by 12.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company's stock worth $14,763,000 after acquiring an additional 8,073 shares in the last quarter. Arkadios Wealth Advisors acquired a new position in Atlassian during the 4th quarter worth about $202,000. American Century Companies Inc. lifted its stake in Atlassian by 58.7% during the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company's stock worth $86,672,000 after acquiring an additional 159,102 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Atlassian during the 4th quarter worth about $13,805,000. Finally, Royal Bank of Canada lifted its stake in Atlassian by 17.3% during the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company's stock worth $76,862,000 after acquiring an additional 56,149 shares in the last quarter. 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.