Atlassian (NASDAQ:TEAM) Given New $350.00 Price Target at Barclays

Atlassian (NASDAQ:TEAM) had its price objective hoisted by Barclays from $275.00 to $350.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the stock. Mizuho boosted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday. KeyCorp raised their target price on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday. Macquarie started coverage on Atlassian in a research note on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective for the company. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their target price for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Finally, Morgan Stanley lifted their price objective on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $318.43.

Atlassian Stock Performance

Shares of Atlassian stock opened at $311.40 on Monday. Atlassian has a 1 year low of $135.29 and a 1 year high of $324.37. The firm’s 50-day moving average is $260.51 and its 200 day moving average is $208.44. The stock has a market cap of $81.10 billion, a price-to-earnings ratio of -232.39 and a beta of 0.87. 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 quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 18.00%. Sell-side analysts anticipate that Atlassian will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 15,896 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the sale, the chief executive officer now owns 429,192 shares of the company’s stock, valued at $104,529,711.60. This represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Anutthara Bharadwaj sold 1,659 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the completion of the sale, the president now directly owns 213,511 shares of the company’s stock, valued at $52,483,138.91. The trade was a 0.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 257,935 shares of company stock valued at $66,276,511 over the last three months. 38.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares in the last quarter. True Wealth Design LLC boosted its position in Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares in the last quarter. Avion Wealth increased its position in shares of Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares in the last quarter. Reston Wealth Management LLC acquired a new position in shares of Atlassian during the 3rd quarter worth approximately $48,000. Finally, Kestra Investment Management LLC purchased a new position in shares of Atlassian during the 4th quarter valued at approximately $56,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.