Atlassian (NASDAQ:TEAM) Given New $200.00 Price Target at Piper Sandler

Atlassian (NASDAQ:TEAM) had its price target cut by Piper Sandler from $225.00 to $200.00 in a report issued on Friday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other analysts have also recently commented on TEAM. StockNews.com cut Atlassian from a buy rating to a hold rating in a report on Tuesday, March 19th. Wells Fargo & Company lifted their target price on shares of Atlassian from $275.00 to $285.00 and gave the stock an overweight rating in a research note on Wednesday, January 24th. Barclays raised shares of Atlassian from an equal weight rating to an overweight rating and upped their price target for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. UBS Group lowered their price objective on Atlassian from $260.00 to $250.00 and set a neutral rating for the company in a research report on Friday, February 2nd. Finally, Mizuho decreased their target price on Atlassian from $240.00 to $225.00 and set a buy rating for the company in a research note on Friday. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian has an average rating of Hold and an average target price of $223.22.

Atlassian Stock Down 9.6 %

NASDAQ:TEAM opened at $179.45 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian has a one year low of $128.02 and a one year high of $258.69. The firm’s 50 day simple moving average is $199.98 and its 200 day simple moving average is $206.53.

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

Insiders Place Their Bets

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $253.53, for a total value of $2,089,340.73. Following the transaction, the chief executive officer now owns 346,122 shares of the company’s stock, valued at $87,752,310.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Scott Farquhar sold 8,241 shares of Atlassian 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 owns 346,122 shares of the company’s stock, valued at approximately $87,752,310.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Gene Liu sold 227 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were 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 owns 47,066 shares in the company, valued at $10,018,939.42. The disclosure for this sale can be found here. Insiders have sold a total of 300,450 shares of company stock valued at $61,721,553 in the last 90 days. 40.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlassian

A number of institutional investors have recently modified their holdings of the business. OFI Invest Asset Management bought a new stake in Atlassian during the 3rd quarter valued at $26,000. Carmel Capital Partners LLC lifted its holdings in Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after purchasing an additional 271 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Atlassian by 255.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after purchasing an additional 291 shares during the period. Finally, GAMMA Investing LLC purchased a new stake in shares of Atlassian in the fourth quarter worth about $107,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

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.