Atlassian (NASDAQ:TEAM) Upgraded to Overweight at KeyCorp

KeyCorp upgraded shares of Atlassian (NASDAQ:TEAM) from a sector weight rating to an overweight rating in a report released on Friday, MarketBeat.com reports. KeyCorp currently has $260.00 price target on the technology company’s stock.

Several other equities research analysts also recently commented on TEAM. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Barclays lowered their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Raymond James raised Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Tuesday, October 1st. Canaccord Genuity Group boosted their price target on Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.16.

Atlassian Trading Down 2.4 %

Shares of TEAM stock opened at $218.96 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian has a 1-year low of $135.29 and a 1-year high of $258.69. The business has a 50-day moving average of $174.38 and a 200 day moving average of $171.31. The stock has a market capitalization of $56.94 billion, a PE ratio of -144.05 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.38%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm earned ($0.07) EPS. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlassian will post -0.58 earnings per share for the current year.

Insider Transactions at Atlassian

In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the sale, the chief executive officer now owns 294,076 shares in the company, valued at $41,329,441.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92. Following the completion of the transaction, the chief executive officer now directly owns 294,076 shares in the company, valued at $41,329,441.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 237,269 shares of company stock worth $41,382,072 in the last 90 days. 38.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atlassian

Hedge funds have recently made changes to their positions in the business. Asset Dedication LLC boosted its holdings in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Hollencrest Capital Management grew its holdings in Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares in the last quarter. Trust Co. of Vermont increased its stake in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Atlassian during the 2nd quarter worth approximately $36,000. Finally, GAMMA Investing LLC boosted its position in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the last quarter. Institutional investors own 93.03% 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.