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

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

TEAM has been the topic of a number of other reports. Raymond James reissued an “outperform” rating and issued a $330.00 price objective (up from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Stephens assumed coverage on Atlassian in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $255.00 target price on the stock. The Goldman Sachs Group lifted their price target on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Canaccord Genuity Group upped their price objective on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Scotiabank raised their target price on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $297.50.

Atlassian Trading Up 0.2 %

TEAM opened at $198.37 on Thursday. 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 stock has a market capitalization of $51.97 billion, a price-to-earnings ratio of -148.04 and a beta of 1.07. The business has a fifty day moving average price of $251.13 and a 200 day moving average price of $241.25. Atlassian has a 12 month low of $135.29 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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 expect that Atlassian will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Monday, February 10th. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88. Following the transaction, the chief executive officer now directly owns 270,232 shares in the company, valued at $87,098,475.92. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the transaction, the president now directly owns 210,471 shares in the company, 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. Over the last three months, insiders have sold 263,033 shares of company stock worth $68,608,284. 38.55% of the stock is owned by company insiders.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gateway Investment Advisers LLC lifted its position in Atlassian by 5.3% in the first quarter. Gateway Investment Advisers LLC now owns 4,153 shares of the technology company’s stock valued at $881,000 after purchasing an additional 210 shares during the period. Retireful LLC purchased a new position in shares of Atlassian during the 1st quarter worth approximately $1,067,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Atlassian by 10.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 2,563 shares of the technology company’s stock valued at $544,000 after buying an additional 247 shares during the period. Juncture Wealth Strategies LLC boosted its stake in shares of Atlassian by 60.9% in the first quarter. Juncture Wealth Strategies LLC now owns 1,569 shares of the technology company’s stock valued at $333,000 after buying an additional 594 shares in the last quarter. Finally, Fulton Bank N.A. grew its holdings in Atlassian by 3.1% during the first quarter. Fulton Bank N.A. now owns 1,892 shares of the technology company’s stock worth $402,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 94.45% 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.