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

Atlassian (NASDAQ:TEAM) had its price objective decreased by Barclays from $275.00 to $250.00 in a research note released on Monday morning, Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

Other analysts have also issued research reports about the stock. Citigroup cut their price objective on shares of Atlassian from $280.00 to $265.00 and set a buy rating on the stock in a research note on Friday, April 12th. Oppenheimer reduced their price objective on Atlassian from $250.00 to $230.00 and set an outperform rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group raised Atlassian from a neutral rating to a buy rating and boosted their price objective for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Truist Financial dropped their target price on Atlassian from $200.00 to $160.00 and set a hold rating on the stock in a report on Friday, August 2nd. Finally, Piper Sandler upgraded Atlassian from a neutral rating to an overweight rating and upped their price objective for the stock from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $217.69.

Atlassian Price Performance

NASDAQ TEAM opened at $137.41 on Monday. The stock’s fifty day moving average price is $168.01 and its 200 day moving average price is $189.34. Atlassian has a 1 year low of $135.29 and a 1 year high of $258.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $35.77 billion, a price-to-earnings ratio of -218.11 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative return on equity of 18.13% and a negative net margin of 6.89%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the business posted ($0.21) earnings per share. As a group, equities research analysts forecast that Atlassian will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $179.88, for a total value of $1,482,391.08. Following the transaction, the chief executive officer now owns 267,558 shares in the company, valued at $48,128,333.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $179.88, for a total transaction of $1,482,391.08. Following the completion of the sale, the chief executive officer now owns 267,558 shares of the company’s stock, valued at $48,128,333.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Gene Liu sold 199 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total transaction of $36,665.75. Following the completion of the transaction, the chief accounting officer now directly owns 45,666 shares in the company, valued at $8,413,960.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 274,699 shares of company stock worth $47,005,091. Insiders own 40.48% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Graypoint LLC increased its stake in shares of Atlassian by 2.4% in the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after acquiring an additional 42 shares during the last quarter. First Trust Direct Indexing L.P. raised its stake in Atlassian by 1.5% during the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after purchasing an additional 55 shares during the period. Park National Corp OH boosted its holdings in Atlassian by 4.0% in the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock valued at $292,000 after purchasing an additional 58 shares during the last quarter. Atria Wealth Solutions Inc. grew its stake in shares of Atlassian by 3.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,885 shares of the technology company’s stock valued at $448,000 after buying an additional 59 shares during the period. Finally, Financial Advocates Investment Management increased its holdings in shares of Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 93.03% 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.