Atlassian (NASDAQ:TEAM) PT Lowered to $200.00 at Piper Sandler

Atlassian (NASDAQ:TEAM) had its price target reduced by Piper Sandler from $225.00 to $200.00 in a research report report published on Friday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other analysts have also recently issued reports about the company. Barclays raised Atlassian from an equal weight rating to an overweight rating and upped their price objective for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. Canaccord Genuity Group reduced their target price on shares of Atlassian from $260.00 to $230.00 and set a buy rating on the stock in a report on Friday. William Blair reaffirmed an outperform rating on shares of Atlassian in a report on Friday, February 2nd. StockNews.com downgraded Atlassian from a buy rating to a hold rating in a research report on Tuesday, March 19th. Finally, Mizuho dropped their price objective on shares of Atlassian from $240.00 to $225.00 and set a buy rating for the company in a research note on Friday. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average target price of $223.22.

Atlassian Price Performance

TEAM stock opened at $179.45 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. Atlassian has a 1-year low of $128.02 and a 1-year high of $258.69. The business has a 50 day simple moving average of $199.98 and a two-hundred day simple moving average of $206.53.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. As a group, equities analysts anticipate that Atlassian will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Gene Liu sold 227 shares of Atlassian stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the transaction, the chief accounting officer now directly owns 47,066 shares in the company, valued at approximately $10,018,939.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Gene Liu sold 227 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $48,321.49. Following the sale, the chief accounting officer now directly owns 47,066 shares in the company, valued at approximately $10,018,939.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the transaction, the chief executive officer now owns 346,122 shares of the company’s stock, valued at approximately $87,752,310.66. The disclosure for this sale can be found here. Insiders sold 300,450 shares of company stock valued at $61,721,553 over the last 90 days. Corporate insiders own 40.48% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in shares of Atlassian during the third quarter valued at about $26,000. Carmel Capital Partners LLC increased its stake in Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after purchasing an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after buying an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Atlassian by 255.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after buying an additional 291 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new position in Atlassian in the 4th quarter worth $107,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

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.