Atlassian (NASDAQ:TEAM) Upgraded at Capital One Financial

Atlassian (NASDAQ:TEAM) was upgraded by research analysts at Capital One Financial from an “equal weight” rating to an “overweight” rating in a research report issued on Thursday, MarketBeat.com reports. The firm currently has a $211.00 price target on the technology company’s stock. Capital One Financial‘s price target suggests a potential upside of 16.29% from the stock’s current price.

Several other research firms also recently commented on TEAM. Truist Financial dropped their price target on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Wells Fargo & Company cut their price target on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. TD Cowen decreased their price objective on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Mizuho cut their target price on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Finally, Canaccord Genuity Group lowered their price target on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a report on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus price target of $225.35.

Atlassian Price Performance

TEAM stock opened at $181.45 on Thursday. The business’s fifty day moving average price is $171.16 and its 200 day moving average price is $198.14. Atlassian has a 12-month low of $152.34 and a 12-month high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $47.23 billion, a PE ratio of -288.02 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.40) earnings per share. On average, sell-side analysts anticipate that Atlassian will post -0.21 EPS for the current year.

Insider Buying and Selling at Atlassian

In other news, CAO Gene Liu sold 199 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $184.25, for a total transaction of $36,665.75. Following the transaction, the chief accounting officer now directly owns 45,666 shares in the company, valued at $8,413,960.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Gene Liu sold 199 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total value of $36,665.75. Following the transaction, the chief accounting officer now owns 45,666 shares in the company, valued at approximately $8,413,960.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $193.63, for a total value of $147,158.80. Following the sale, the president now directly owns 162,610 shares of the company’s stock, valued at $31,486,174.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 278,682 shares of company stock worth $49,101,951. 40.48% of the stock is owned by insiders.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently bought and sold shares of TEAM. MJP Associates Inc. ADV increased its stake in shares of Atlassian by 16.2% during the second quarter. MJP Associates Inc. ADV now owns 2,397 shares of the technology company’s stock worth $424,000 after acquiring an additional 334 shares during the period. Gateway Investment Advisers LLC increased its position in Atlassian by 50.3% during the 2nd quarter. Gateway Investment Advisers LLC now owns 10,255 shares of the technology company’s stock worth $1,814,000 after purchasing an additional 3,434 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Atlassian during the 2nd quarter worth approximately $91,072,000. Linden Thomas Advisory Services LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at approximately $1,438,000. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Atlassian by 5.7% in the second quarter. Harbor Capital Advisors Inc. now owns 5,900 shares of the technology company’s stock valued at $1,044,000 after buying an additional 318 shares in the last quarter. Hedge funds and other institutional investors 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.