UBS Group Boosts Atlassian (NASDAQ:TEAM) Price Target to $205.00

Atlassian (NASDAQ:TEAM) had its target price hoisted by UBS Group from $180.00 to $205.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other equities analysts also recently commented on TEAM. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Robert W. Baird downgraded shares of Atlassian from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $230.00 to $175.00 in a research note on Friday, August 2nd. Canaccord Genuity Group upped their target price on shares of Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Mizuho upped their price target on shares of Atlassian from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $212.47.

Atlassian Stock Performance

Atlassian stock opened at $188.73 on Tuesday. The company’s 50-day moving average price is $169.41 and its 200-day moving average price is $171.72. Atlassian has a twelve month low of $135.29 and a twelve month high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market cap of $49.13 billion, a PE ratio of -299.57 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.21) EPS. On average, equities research analysts forecast that Atlassian will post -0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $188.56, for a total value of $1,498,674.88. Following the sale, the chief executive officer now owns 373,556 shares in the company, valued at $70,437,719.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total transaction of $29,069.92. Following the sale, the chief technology officer now owns 128,957 shares in the company, valued at approximately $18,838,038.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $188.56, for a total transaction of $1,498,674.88. Following the sale, the chief executive officer now owns 373,556 shares in the company, valued at approximately $70,437,719.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 230,185 shares of company stock valued at $38,597,791. Insiders own 40.48% of the company’s stock.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Asset Dedication LLC grew its position in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares during the period. Hollencrest Capital Management lifted its holdings in Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after purchasing an additional 119 shares in the last quarter. Trust Co. of Vermont lifted its holdings in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new position in Atlassian during the second quarter valued at $36,000. Finally, GAMMA Investing LLC lifted its holdings in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares in 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.