Atlassian (NASDAQ:TEAM) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Atlassian (NASDAQ:TEAM - Free Report) from a neutral rating to an overweight rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The firm currently has $272.00 target price on the technology company's stock, down from their prior target price of $304.00.

TEAM has been the topic of a number of other research reports. Wells Fargo & Company raised their target price on shares of Atlassian from $350.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Macquarie boosted their price objective on Atlassian from $290.00 to $317.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Mizuho increased their target price on Atlassian from $285.00 to $355.00 and gave the company an "outperform" rating in a research report on Friday, January 31st. Canaccord Genuity Group boosted their price target on Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Finally, Citigroup lifted their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, January 17th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Atlassian currently has a consensus rating of "Moderate Buy" and a consensus target price of $308.73.

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Atlassian Price Performance

Shares of Atlassian stock traded down $10.68 during trading on Wednesday, reaching $187.67. 3,206,572 shares of the company's stock were exchanged, compared to its average volume of 2,002,471. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a market cap of $49.17 billion, a P/E ratio of -140.05 and a beta of 1.07. The firm's 50-day moving average price is $264.05 and its 200 day moving average price is $239.57.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) 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, research analysts anticipate that Atlassian will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In other Atlassian news, CFO Joseph Leo Binz sold 2,587 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $312.09, for a total value of $807,376.83. Following the transaction, the chief financial officer now owns 169,342 shares in the company, valued at approximately $52,849,944.78. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $222.68, for a total value of $1,769,860.64. Following the sale, the chief executive officer now owns 357,660 shares of the company's stock, valued at approximately $79,643,728.80. This represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,981 shares of company stock worth $71,914,254. Corporate insiders own 38.55% of the company's stock.

Institutional Trading of Atlassian

Several hedge funds have recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian during the fourth quarter worth $27,000. Colonial Trust Co SC raised its holdings in shares of Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after acquiring an additional 69 shares during the last quarter. Summit Securities Group LLC bought a new position in Atlassian in the 4th quarter valued at about $38,000. Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian in the 4th quarter valued at about $39,000. Finally, Avion Wealth boosted its stake in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after purchasing an additional 157 shares during the last quarter. Institutional investors and hedge funds 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.