Jefferies Financial Group Has Lowered Expectations for Atlassian (NASDAQ:TEAM) Stock Price

Atlassian (NASDAQ:TEAM) had its target price reduced by analysts at Jefferies Financial Group from $400.00 to $330.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 52.49% from the stock’s current price.

TEAM has been the topic of several other research reports. Macquarie increased their price target on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Barclays increased their target price on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Morgan Stanley boosted their price target on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Oppenheimer raised their price objective on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, William Blair reiterated an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $310.18.

Atlassian Trading Up 2.0 %

Shares of TEAM opened at $216.41 on Monday. Atlassian has a one year low of $135.29 and a one year high of $326.00. The stock has a 50-day moving average price of $267.68 and a 200 day moving average price of $239.81. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $56.70 billion, a P/E ratio of -161.50 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last released 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 net margin of 7.22% and a negative return on equity of 17.37%. Sell-side analysts forecast that Atlassian will post -0.34 EPS for the current fiscal year.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 1,723 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total value of $526,962.32. Following the completion of the sale, the president now directly owns 199,934 shares in the company, valued at $61,147,814.56. This represents a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $242.27, for a total value of $1,925,561.96. Following the transaction, the chief executive officer now directly owns 476,880 shares of the company’s stock, valued at approximately $115,533,717.60. The trade was a 1.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 270,981 shares of company stock valued at $72,069,956. Company insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after acquiring an additional 1,806,042 shares in the last quarter. State Street Corp grew its stake in shares of Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after purchasing an additional 8,957 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Atlassian in the 4th quarter worth approximately $687,486,000. Invesco Ltd. lifted its stake in Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after purchasing an additional 1,777,179 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Atlassian by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company’s stock worth $528,851,000 after buying an additional 27,899 shares in the last quarter. Institutional investors and hedge funds 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.