Atlassian (NASDAQ:TEAM) Price Target Raised to $280.00 at Jefferies Financial Group

Atlassian (NASDAQ:TEAM) had its price target hoisted by Jefferies Financial Group from $240.00 to $280.00 in a research report released on Friday, Benzinga reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

A number of other equities analysts also recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a report on Thursday, July 11th. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. BMO Capital Markets lifted their price target on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday. Finally, Robert W. Baird lifted their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.16.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded up $35.81 during midday trading on Friday, reaching $224.35. 9,591,126 shares of the company’s stock were exchanged, compared to its average volume of 1,914,822. The company’s 50 day simple moving average is $173.30 and its two-hundred day simple moving average is $171.46. The firm has a market capitalization of $58.34 billion, a PE ratio of -147.60 and a beta of 0.71. Atlassian has a 12 month low of $135.29 and a 12 month high of $258.69. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.38%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) EPS. Equities research analysts expect that Atlassian will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares in the company, valued at $23,482,294.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares in the company, valued at $23,482,294.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $143.54, for a total transaction of $1,140,855.92. Following the sale, the chief executive officer now owns 309,972 shares of the company’s stock, valued at approximately $44,493,380.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 230,185 shares of company stock worth $39,155,661 in the last quarter. 38.55% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Lindbrook Capital LLC grew its holdings in Atlassian by 8.0% during the third quarter. Lindbrook Capital LLC now owns 1,802 shares of the technology company’s stock valued at $286,000 after purchasing an additional 133 shares during the period. Verdence Capital Advisors LLC grew its holdings in Atlassian by 88.8% during the third quarter. Verdence Capital Advisors LLC now owns 3,503 shares of the technology company’s stock valued at $556,000 after purchasing an additional 1,648 shares during the period. Capital Performance Advisors LLP acquired a new position in Atlassian during the third quarter valued at approximately $103,000. AIA Group Ltd acquired a new position in Atlassian during the third quarter valued at approximately $1,598,000. Finally, Principal Financial Group Inc. grew its holdings in Atlassian by 61.4% during the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock valued at $1,710,000 after purchasing an additional 4,099 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.