Piper Sandler Cuts Atlassian (NASDAQ:TEAM) Price Target to $200.00

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

Several other equities analysts have also issued reports on the company. Mizuho decreased their price target on Atlassian from $240.00 to $225.00 and set a buy rating on the stock in a research note on Friday. Truist Financial lifted their price target on Atlassian from $180.00 to $220.00 and gave the company a hold rating in a research note on Tuesday, January 16th. KeyCorp initiated coverage on Atlassian in a report on Tuesday, March 19th. They set a sector weight rating on the stock. The Goldman Sachs Group raised their price objective on Atlassian from $188.00 to $215.00 and gave the company a neutral rating in a report on Friday, February 2nd. Finally, William Blair reissued an outperform rating on shares of Atlassian in a report on Friday, February 2nd. 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 currently has an average rating of Hold and a consensus target price of $223.22.

Atlassian Price Performance

Atlassian stock opened at $179.45 on Friday. The stock’s fifty day moving average price is $199.98 and its two-hundred day moving average price is $206.59. Atlassian has a one year low of $128.02 and a one year high of $258.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $46.55 billion, a PE ratio of -284.84 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last posted 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 company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. As a group, research analysts expect that Atlassian will post -0.42 EPS for the current fiscal year.

Insider Activity

In other news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the sale, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $251.76, for a total value of $2,074,754.16. Following the completion of the sale, the chief executive officer now directly owns 329,640 shares of the company’s stock, valued at $82,990,166.40. The disclosure for this sale can be found here. Insiders have sold 292,209 shares of company stock valued at $59,632,213 in the last ninety days. 40.48% of the stock is owned by company insiders.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Atlassian by 12.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock valued at $14,763,000 after buying an additional 8,073 shares in the last quarter. Arkadios Wealth Advisors bought a new stake in Atlassian during the 4th quarter worth approximately $202,000. American Century Companies Inc. increased its holdings in Atlassian by 58.7% during the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after purchasing an additional 159,102 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Atlassian during the 4th quarter worth approximately $13,805,000. Finally, Royal Bank of Canada increased its holdings in Atlassian by 17.3% during the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock worth $76,862,000 after purchasing an additional 56,149 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.