Atlassian (NASDAQ:TEAM) Price Target Raised to $317.00 at Macquarie

Atlassian (NASDAQ:TEAM) had its price objective increased by Macquarie from $290.00 to $317.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

TEAM has been the topic of a number of other reports. Raymond James reiterated an “outperform” rating and set a $330.00 target price (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Scotiabank upped their price objective on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. KeyCorp boosted their price objective on Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Mizuho boosted their price target on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, Robert W. Baird raised their price objective on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $319.71.

Atlassian Price Performance

Shares of Atlassian stock opened at $314.28 on Friday. The business has a 50-day simple moving average of $264.90 and a 200 day simple moving average of $211.90. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian has a one year low of $135.29 and a one year high of $324.37.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, analysts anticipate that Atlassian will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $244.84, for a total value of $1,945,988.32. Following the completion of the sale, the director now directly owns 270,232 shares in the company, valued at $66,163,602.88. This trade represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Gene Liu sold 779 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the sale, the chief accounting officer now directly owns 52,710 shares in the company, valued at approximately $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 265,438 shares of company stock worth $70,024,411 in the last 90 days. Company insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its stake in shares of Atlassian by 760.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after buying an additional 617,566 shares in the last quarter. Two Sigma Advisers LP increased its stake in Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after acquiring an additional 551,500 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Atlassian in the third quarter worth $57,149,000. Parnassus Investments LLC boosted its stake in shares of Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in shares of Atlassian by 12,047.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock valued at $55,521,000 after buying an additional 226,246 shares during the last quarter. Institutional investors own 94.45% 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.