Atlassian (NASDAQ:TEAM) Price Target Lowered to $230.00 at Robert W. Baird

Atlassian (NASDAQ:TEAM) had its target price lowered by Robert W. Baird from $270.00 to $230.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

TEAM has been the topic of several other reports. Truist Financial raised their price objective on Atlassian from $180.00 to $220.00 and gave the company a hold rating in a research report on Tuesday, January 16th. William Blair reiterated an outperform rating on shares of Atlassian in a report on Friday, February 2nd. Wells Fargo & Company boosted their price target on Atlassian from $275.00 to $285.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. Barclays raised shares of Atlassian from an equal weight rating to an overweight rating and increased their price objective for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Finally, UBS Group reduced their target price on shares of Atlassian from $260.00 to $250.00 and set a neutral rating on the stock in a research report on Friday, February 2nd. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $223.22.

Atlassian Stock Performance

NASDAQ TEAM opened at $179.45 on Friday. The company has a 50-day moving average of $199.98 and a 200-day moving average of $206.53. 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 has a 12 month low of $128.02 and a 12 month high of $258.69.

Atlassian (NASDAQ:TEAM) last released 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). Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, analysts anticipate that Atlassian will post -0.4 earnings per share for the current year.

Insider Transactions at Atlassian

In related news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $199.71, for a total transaction of $1,645,810.11. Following the sale, the chief executive officer now owns 366,450 shares in the company, valued at $73,183,729.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 872 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 $185,622.64. Following the sale, the chief technology officer now directly owns 142,103 shares of the company’s stock, valued at $30,249,465.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $199.71, for a total transaction of $1,645,810.11. Following the transaction, the chief executive officer now owns 366,450 shares of the company’s stock, valued at approximately $73,183,729.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 300,450 shares of company stock worth $61,721,553. 40.48% of the stock is currently owned by insiders.

Institutional Trading of Atlassian

Hedge funds have recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Atlassian during the 3rd quarter valued at $26,000. Carmel Capital Partners LLC boosted its holdings in shares of Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after acquiring an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after acquiring an additional 271 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Atlassian by 255.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after purchasing an additional 291 shares in the last quarter. Finally, Operose Advisors LLC acquired a new stake in Atlassian in the third quarter worth approximately $99,000. 93.03% of the stock is currently owned by 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.