William Blair restated their outperform rating on shares of Atlassian (NASDAQ:TEAM – Free Report) in a research report report published on Friday morning,RTT News reports.
A number of other equities research analysts have also recently issued reports on TEAM. Piper Sandler upped their target price on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday. Cantor Fitzgerald upped their target price on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday. Jefferies Financial Group upped their target price on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Finally, Morgan Stanley upped their target price on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $307.00.
Get Our Latest Stock Analysis on Atlassian
Atlassian Stock Performance
Atlassian (NASDAQ:TEAM – Get Free Report) last issued its 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 return on equity of 23.35% and a negative net margin of 8.59%. Analysts predict that Atlassian will post -0.55 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, 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 in the company, valued at approximately $52,483,138.91. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $224.33, for a total value of $1,782,974.84. Following the completion of the transaction, the chief executive officer now owns 294,076 shares in the company, valued at approximately $65,970,069.08. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 249,208 shares of company stock worth $63,572,404 over the last three months. 38.55% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Atlassian
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. GAMMA Investing LLC lifted its holdings in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares in the last quarter. Avion Wealth lifted its holdings in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares in the last quarter. Reston Wealth Management LLC bought a new position in shares of Atlassian during the 3rd quarter valued at about $48,000. Finally, Kestra Investment Management LLC bought a new position in shares of Atlassian during the 4th quarter valued at about $56,000. Institutional investors own 94.45% of the company’s stock.
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.
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