Atlassian (NASDAQ:TEAM) Price Target Raised to $330.00 at UBS Group

Atlassian (NASDAQ:TEAM) had its price objective lifted by analysts at UBS Group from $275.00 to $330.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. UBS Group’s target price points to a potential upside of 8.85% from the company’s previous close.

Several other research firms have also recently issued reports on TEAM. Jefferies Financial Group upped their price target on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. Mizuho increased their target price on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday. Morgan Stanley increased their target price on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $255.00 to $292.00 in a report on Friday, January 10th. Finally, KeyCorp increased their target price on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $307.00.

Atlassian Trading Up 13.6 %

Atlassian stock traded up $36.22 during trading on Friday, reaching $303.17. The company had a trading volume of 6,135,015 shares, compared to its average volume of 2,069,484. Atlassian has a 12-month low of $135.29 and a 12-month high of $324.37. The stock’s 50 day moving average price is $259.32 and its two-hundred day moving average price is $206.76. The firm has a market capitalization of $78.95 billion, a price-to-earnings ratio of -199.43 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. As a group, equities analysts expect that Atlassian will post -0.55 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the transaction, the director now owns 309,972 shares of the company’s stock, valued at approximately $67,905,566.04. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the transaction, the chief executive officer now directly owns 429,192 shares in the company, valued at approximately $104,529,711.60. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 257,156 shares of company stock valued at $65,313,573 over the last three months. 38.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in Atlassian during the third quarter valued at approximately $606,000. Sequoia Financial Advisors LLC grew its holdings in Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares during the last quarter. Fulton Bank N.A. acquired a new stake in shares of Atlassian in the fourth quarter worth $447,000. Paloma Partners Management Co acquired a new stake in shares of Atlassian in the third quarter worth $1,588,000. Finally, Impax Asset Management Group plc grew its stake in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after acquiring an additional 31,986 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.