Atlassian (NASDAQ:TEAM) PT Lowered to $200.00 at Truist Financial

Atlassian (NASDAQ:TEAM) had its target price lowered by equities research analysts at Truist Financial from $220.00 to $200.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Truist Financial’s target price indicates a potential upside of 11.45% from the company’s previous close.

TEAM has been the topic of several other research reports. KeyCorp began coverage on Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating on the stock. The Goldman Sachs Group upped their target price on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Canaccord Genuity Group cut their price target on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday. Robert W. Baird cut their price target on Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday. Finally, StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $223.22.

Atlassian Stock Down 9.6 %

Shares of Atlassian stock opened at $179.45 on Friday. 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 stock’s 50-day moving average is $199.98 and its 200 day moving average is $206.54. The firm has a market cap of $46.55 billion, a price-to-earnings ratio of -284.84 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Equities research analysts anticipate that Atlassian will post -0.4 EPS for the current year.

Insider Transactions at Atlassian

In other news, CAO Gene Liu sold 227 shares of the stock in a transaction that occurred on 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 $10,018,939.42. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Gene Liu sold 227 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction 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 $10,018,939.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $253.53, for a total value of $2,089,340.73. Following the sale, the chief executive officer now directly owns 346,122 shares of the company’s stock, valued at $87,752,310.66. The disclosure for this sale can be found here. Insiders sold a total of 300,450 shares of company stock valued at $61,721,553 over the last ninety days. 40.48% of the stock is currently owned by insiders.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently modified their holdings of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Atlassian by 12.4% during the third 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 acquiring an additional 8,073 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in Atlassian in the fourth quarter worth $202,000. American Century Companies Inc. increased its position in Atlassian by 58.7% in the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after buying an additional 159,102 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Atlassian in the fourth quarter worth $13,805,000. Finally, Royal Bank of Canada increased its position in Atlassian by 17.3% in the third quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock worth $76,862,000 after buying an additional 56,149 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

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.