Jefferies Financial Group Lowers Atlassian (NASDAQ:TEAM) Price Target to $330.00

Atlassian (NASDAQ:TEAM) had its target price dropped by research analysts at Jefferies Financial Group from $400.00 to $330.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price target points to a potential upside of 57.17% from the company’s current price.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group boosted their price target on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Truist Financial reduced their price objective on Atlassian from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Monday. Stephens initiated coverage on shares of Atlassian in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 target price on the stock. Citigroup raised their price target on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.73.

Atlassian Stock Down 3.7 %

Atlassian stock traded down $8.02 during trading hours on Monday, reaching $209.97. The stock had a trading volume of 1,198,900 shares, compared to its average volume of 1,973,714. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $55.01 billion, a price-to-earnings ratio of -156.70 and a beta of 0.91. The business’s 50 day moving average price is $269.28 and its 200-day moving average price is $239.11. Atlassian has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly 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 17.37% and a negative net margin of 7.22%. Sell-side analysts anticipate that Atlassian will post -0.34 EPS for the current year.

Insiders Place Their Bets

In other Atlassian news, CAO Gene Liu sold 779 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the sale, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total value of $1,723,921.20. Following the sale, the chief executive officer now owns 71,532 shares of the company’s stock, valued at approximately $15,515,290.80. This represents a 10.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,085 shares of company stock worth $68,681,246. 38.55% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlassian

Several institutional investors have recently added to or reduced their stakes in TEAM. 111 Capital acquired a new stake in Atlassian during the 4th quarter valued at $465,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Atlassian by 62.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,567 shares of the technology company’s stock valued at $3,059,000 after acquiring an additional 4,837 shares during the period. Siemens Fonds Invest GmbH boosted its stake in Atlassian by 16.8% during the 4th quarter. Siemens Fonds Invest GmbH now owns 2,011 shares of the technology company’s stock valued at $489,000 after purchasing an additional 289 shares during the period. Menard Financial Group LLC acquired a new stake in Atlassian in the 4th quarter valued at approximately $810,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Atlassian during the fourth quarter valued at $25,279,000. 94.45% 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.