Atlassian (NASDAQ:TEAM) Price Target Raised to $300.00 at Jefferies Financial Group

Atlassian (NASDAQ:TEAM) had its price objective increased by Jefferies Financial Group from $280.00 to $300.00 in a report issued on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other analysts also recently issued reports about the company. Morgan Stanley increased their price objective on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. JMP Securities upgraded Atlassian to a “hold” rating in a report on Friday, August 2nd. UBS Group lifted their price objective on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Scotiabank boosted their target price on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.21.

Atlassian Stock Performance

Shares of TEAM stock traded down $8.93 during trading hours on Thursday, hitting $241.06. 737,360 shares of the company’s stock were exchanged, compared to its average volume of 1,857,735. The stock’s 50-day moving average is $184.61 and its 200-day moving average is $173.61. Atlassian has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Atlassian’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) EPS. Research analysts anticipate that Atlassian will post -0.56 EPS for the current year.

Insiders Place Their Bets

In related news, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the transaction, the president now directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. The trade was a 0.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $156.92, for a total transaction of $1,247,200.16. Following the sale, the chief executive officer now directly owns 214,596 shares in the company, valued at approximately $33,674,404.32. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,248 shares of company stock worth $45,553,294 in the last quarter. 38.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlassian

Large investors have recently bought and sold shares of the company. Asset Dedication LLC raised its stake in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont raised its position in Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Atlassian during the 2nd quarter worth about $36,000. GAMMA Investing LLC grew its stake in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares in the last quarter. Finally, True Wealth Design LLC raised its stake in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

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.