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

Atlassian (NASDAQ:TEAM) had its target price cut by investment analysts at Jefferies Financial Group from $400.00 to $330.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 52.49% from the company’s current price.

A number of other brokerages also recently weighed in on TEAM. Oppenheimer lifted their price target on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. The Goldman Sachs Group increased their price target on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Mizuho boosted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Cantor Fitzgerald increased their target price on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Macquarie boosted their price target on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.18.

Atlassian Price Performance

NASDAQ TEAM opened at $216.41 on Monday. Atlassian has a 1 year low of $135.29 and a 1 year high of $326.00. The stock’s 50-day moving average price is $267.68 and its two-hundred day moving average price is $239.81. The company has a market cap of $56.70 billion, a PE ratio of -161.50 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last issued its quarterly 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%. On average, analysts predict that Atlassian will post -0.34 EPS for the current year.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88. Following the transaction, the chief executive officer now directly owns 270,232 shares of the company’s stock, valued at $87,098,475.92. The trade was a 2.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 of the company’s stock, valued at $61,147,814.56. This represents a 0.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,981 shares of company stock worth $72,069,956. 38.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TEAM. JPMorgan Chase & Co. grew its position in Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after buying an additional 1,806,042 shares in the last quarter. State Street Corp grew its holdings in shares of Atlassian by 0.3% during 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 in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Atlassian during the fourth quarter valued at approximately $687,486,000. Invesco Ltd. raised its stake in shares of Atlassian by 265.9% in 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 in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Atlassian by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,177,813 shares of the technology company’s stock valued at $528,851,000 after purchasing an additional 27,899 shares in 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.