Jefferies Financial Group Lowers Atlassian (NASDAQ:TEAM) Price Target to $330.00

Atlassian (NASDAQ:TEAM - Free Report) had its price objective decreased by Jefferies Financial Group from $400.00 to $330.00 in a report issued on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the technology company's stock.

TEAM has been the topic of a number of other reports. Citigroup increased their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Piper Sandler raised their target price on shares of Atlassian from $310.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Oppenheimer upped their target price on Atlassian from $300.00 to $380.00 and gave the company an "outperform" rating in a report on Friday, January 31st. KeyCorp increased their price target on Atlassian from $315.00 to $365.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, StockNews.com upgraded Atlassian from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $308.73.

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Atlassian Stock Down 11.4 %

Shares of TEAM traded down $25.61 during midday trading on Monday, hitting $198.35. The company had a trading volume of 3,316,711 shares, compared to its average volume of 1,994,797. The stock has a market cap of $51.97 billion, a price-to-earnings ratio of -148.02 and a beta of 1.07. The company's 50 day moving average price is $266.94 and its 200 day moving average price is $239.70. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data 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 net margin of 7.22% and a negative return on equity of 17.37%. On average, equities research analysts predict that Atlassian will post -0.34 EPS for the current year.

Insider Activity at Atlassian

In other news, CFO Joseph Leo Binz sold 2,587 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 169,342 shares in the company, valued at $52,849,944.78. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction 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 transaction, the chief executive officer now owns 357,660 shares in the company, valued at $79,643,728.80. This represents a 2.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 270,981 shares of company stock worth $71,914,254 in the last quarter. 38.55% of the stock is owned by company insiders.

Institutional Trading of Atlassian

Several institutional investors have recently made changes to their positions in the stock. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian during the 4th quarter valued at $27,000. Colonial Trust Co SC raised its holdings in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after acquiring an additional 69 shares in the last quarter. Summit Securities Group LLC acquired a new stake in Atlassian during the fourth quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian in the fourth quarter valued at about $39,000. Finally, Avion Wealth increased its position in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock worth $41,000 after purchasing an additional 157 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.