Atlassian (NASDAQ:TEAM) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Atlassian (NASDAQ:TEAMFree Report) from a buy rating to a hold rating in a research note published on Thursday morning.

Several other brokerages have also weighed in on TEAM. William Blair reissued an outperform rating on shares of Atlassian in a research report on Friday, February 2nd. The Goldman Sachs Group upped their target price on shares of Atlassian from $188.00 to $215.00 and gave the company a neutral rating in a report on Friday, February 2nd. Citigroup cut their price target on shares of Atlassian from $280.00 to $265.00 and set a buy rating on the stock in a research note on Friday, April 12th. Truist Financial reduced their price target on shares of Atlassian from $220.00 to $200.00 and set a hold rating for the company in a research report on Friday, April 26th. Finally, TD Cowen cut their target price on Atlassian from $220.00 to $210.00 and set a hold rating on the stock in a research report on Friday, April 26th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $223.22.

Get Our Latest Report on TEAM

Atlassian Stock Down 2.2 %

Shares of NASDAQ:TEAM opened at $156.86 on Thursday. Atlassian has a fifty-two week low of $154.02 and a fifty-two week high of $258.69. The firm’s 50 day moving average price is $186.12 and its 200 day moving average price is $205.40. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The stock has a market cap of $40.83 billion, a price-to-earnings ratio of -248.98 and a beta of 0.67.

Atlassian (NASDAQ:TEAMGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The business 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 company’s revenue was up 29.9% on a year-over-year basis. During the same period last year, the business earned ($0.40) EPS. As a group, equities research analysts predict that Atlassian will post -0.23 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In other news, CAO Gene Liu sold 199 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total transaction of $36,665.75. Following the completion of the transaction, the chief accounting officer now directly owns 45,666 shares of the company’s stock, valued at approximately $8,413,960.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Gene Liu sold 199 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $8,413,960.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $214.32, for a total transaction of $1,766,211.12. Following the completion of the sale, the chief executive officer now owns 107,133 shares of the company’s stock, valued at approximately $22,960,744.56. The disclosure for this sale can be found here. Insiders sold a total of 292,367 shares of company stock worth $55,513,930 over the last 90 days. Company insiders own 40.48% of the company’s stock.

Hedge Funds Weigh In On Atlassian

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Graypoint LLC raised its stake in shares of Atlassian by 2.4% during the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after buying an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its holdings in shares of Atlassian by 1.4% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock valued at $736,000 after purchasing an additional 43 shares in the last quarter. Park National Corp OH grew its position in shares of Atlassian by 3.5% in the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock valued at $342,000 after purchasing an additional 48 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Atlassian by 1.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after purchasing an additional 55 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Atlassian by 5.7% during the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after purchasing an additional 56 shares during the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

About Atlassian

(Get Free Report)

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.

See Also

Analyst Recommendations for Atlassian (NASDAQ:TEAM)

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.