Atlassian (NASDAQ:TEAM) PT Raised to $205.00 at UBS Group

Atlassian (NASDAQ:TEAM) had its price target raised by UBS Group from $180.00 to $205.00 in a research report sent to investors on Tuesday morning, Benzinga reports. UBS Group currently has a neutral rating on the technology company’s stock.

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Scotiabank decreased their price objective on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Truist Financial decreased their price objective on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective on the stock in a research note on Thursday, July 11th. Finally, JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $212.47.

Atlassian Stock Up 0.3 %

Shares of TEAM opened at $189.35 on Tuesday. Atlassian has a 12 month low of $135.29 and a 12 month high of $258.69. The firm’s 50 day moving average is $168.72 and its 200-day moving average is $171.79. The stock has a market capitalization of $49.29 billion, a PE ratio of -300.56 and a beta of 0.73. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned ($0.21) earnings per share. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. Equities research analysts forecast that Atlassian will post -0.58 EPS for the current year.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $193.70, for a total value of $1,539,527.60. Following the transaction, the chief executive officer now owns 429,192 shares in the company, valued at $83,134,490.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Monday, October 14th. The shares were sold at an average price of $193.70, for a total value of $1,539,527.60. Following the completion of the sale, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $83,134,490.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of Atlassian stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 230,185 shares of company stock worth $38,597,791 over the last quarter. Company insiders own 40.48% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently made changes to their positions in TEAM. Asset Dedication LLC increased its position in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Hollencrest Capital Management increased its position in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after acquiring an additional 119 shares in the last quarter. Trust Co. of Vermont grew its position in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC bought a new stake in Atlassian in the 2nd quarter worth about $36,000. Finally, GAMMA Investing LLC grew its position in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares in the last quarter. 93.03% of the stock is 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.