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

Atlassian (NASDAQ:TEAM) had its target price reduced by Robert W. Baird from $270.00 to $230.00 in a research report report published on Friday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other equities research analysts have also commented on the company. The Goldman Sachs Group raised their price objective on Atlassian from $188.00 to $215.00 and gave the stock a neutral rating in a research report on Friday, February 2nd. Citigroup decreased their price objective on Atlassian from $280.00 to $265.00 and set a buy rating for the company in a research report on Friday, April 12th. William Blair restated an outperform rating on shares of Atlassian in a research report on Friday, February 2nd. UBS Group reduced their price target on Atlassian from $260.00 to $250.00 and set a neutral rating for the company in a report on Friday, February 2nd. Finally, Wells Fargo & Company lifted their price target on Atlassian from $275.00 to $285.00 and gave the company an overweight rating in a report on Wednesday, January 24th. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $223.22.

Atlassian Price Performance

NASDAQ:TEAM opened at $179.45 on Friday. The business’s 50-day moving average price is $199.98 and its 200 day moving average price is $206.59. The firm has a market cap of $46.55 billion, a P/E ratio of -284.84 and a beta of 0.63. Atlassian has a 52-week low of $128.02 and a 52-week high of $258.69. 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 (NASDAQ:TEAM) last announced 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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, sell-side analysts predict that Atlassian will post -0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 366,450 shares in the company, valued at $73,183,729.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 366,450 shares in the company, valued at $73,183,729.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Gene Liu sold 227 shares of the company’s stock in a transaction that occurred 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 owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 292,209 shares of company stock worth $59,632,213. 40.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after buying an additional 504,181 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Atlassian by 3.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after purchasing an additional 326,673 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after purchasing an additional 249,017 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of Atlassian by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares in the last quarter. Finally, Artisan Partners Limited Partnership raised its stake in shares of Atlassian by 1.1% in the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock valued at $1,218,765,000 after purchasing an additional 63,903 shares in the last quarter. 93.03% 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.