Atlassian (NASDAQ:TEAM) Shares Gap Up to $158.81

Atlassian Co. (NASDAQ:TEAM)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $158.81, but opened at $163.23. Atlassian shares last traded at $158.29, with a volume of 124,481 shares.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TEAM. Robert W. Baird cut shares of Atlassian from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $230.00 to $175.00 in a report on Friday, August 2nd. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price for the company in a research note on Thursday, July 11th. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. JMP Securities raised shares of Atlassian to a “hold” rating in a report on Friday, August 2nd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a report on Monday, September 23rd. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $216.65.

Atlassian Stock Down 1.8 %

The company has a market cap of $40.54 billion, a price-to-earnings ratio of -252.08 and a beta of 0.73. The business has a fifty day moving average of $159.98 and a two-hundred day moving average of $173.22. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm posted ($0.21) EPS. The business’s revenue was up 20.5% on a year-over-year basis. As a group, equities analysts anticipate that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $161.30, for a total value of $1,282,012.40. Following the transaction, the chief executive officer now directly owns 7,948 shares of the company’s stock, valued at approximately $1,282,012.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $161.30, for a total value of $1,282,012.40. Following the completion of the transaction, the chief executive officer now directly owns 7,948 shares of the company’s stock, valued at approximately $1,282,012.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60. Following the sale, the president now directly owns 143,966 shares in the company, valued at approximately $23,482,294.26. The disclosure for this sale can be found here. Insiders sold 232,211 shares of company stock valued at $38,706,904 over the last 90 days. Corporate insiders own 40.48% of the company’s stock.

Institutional Trading of Atlassian

Hedge funds have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Atlassian in the second quarter valued at approximately $12,846,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Atlassian in the 2nd quarter valued at $462,000. Sanctuary Advisors LLC acquired a new stake in shares of Atlassian in the 2nd quarter worth $1,022,000. New Century Financial Group LLC purchased a new position in shares of Atlassian during the 2nd quarter worth $397,000. Finally, Truist Financial Corp boosted its position in shares of Atlassian by 2.5% during the 2nd quarter. Truist Financial Corp now owns 84,358 shares of the technology company’s stock valued at $14,921,000 after acquiring an additional 2,050 shares during the last quarter. Institutional investors and hedge funds own 93.03% 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.