KeyCorp Lowers Atlassian (NASDAQ:TEAM) Price Target to $275.00

Atlassian (NASDAQ:TEAM) had its target price decreased by research analysts at KeyCorp from $365.00 to $275.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective indicates a potential upside of 38.63% from the stock’s current price.

Several other research analysts also recently issued reports on TEAM. Barclays lifted their price target on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Macquarie raised their target price on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Citigroup upped their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. Jefferies Financial Group lowered their price target on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Finally, JMP Securities restated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.50.

Atlassian Trading Up 0.2 %

Shares of Atlassian stock opened at $198.37 on Thursday. The company has a 50-day moving average of $251.13 and a two-hundred day moving average of $241.25. Atlassian has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market cap of $51.97 billion, a PE ratio of -148.04 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data 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 17.37%. On average, research analysts anticipate that Atlassian will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Wednesday, April 9th. The stock was sold at an average price of $195.56, for a total transaction of $1,554,310.88. Following the completion of the sale, the chief executive officer now owns 317,920 shares of the company’s stock, valued at approximately $62,172,435.20. The trade was a 2.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the sale, the president now owns 210,471 shares of the company’s stock, valued at $54,690,889.35. This represents a 0.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 263,033 shares of company stock valued at $68,608,284. Insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Institutional investors have recently modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian during the fourth quarter valued at approximately $27,000. Colonial Trust Co SC increased its position in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after acquiring an additional 69 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Atlassian in the 4th quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Atlassian during the 4th quarter valued at $39,000. Finally, 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 acquiring an additional 157 shares in the last quarter. Hedge funds and other 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.