KeyCorp Issues Positive Forecast for Atlassian (NASDAQ:TEAM) Stock Price

Atlassian (NASDAQ:TEAM) had its target price increased by KeyCorp from $315.00 to $365.00 in a report issued on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the technology company’s stock.

TEAM has been the subject of several other reports. Raymond James raised their price objective on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company raised their price objective on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday. Mizuho increased their target price on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday. Citigroup increased their target price on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, UBS Group increased their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $307.00.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $306.78 on Friday. The firm has a market cap of $79.90 billion, a P/E ratio of -201.83 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. The stock has a fifty day moving average price of $260.51 and a two-hundred day moving average price of $208.44. Atlassian has a 1 year low of $135.29 and a 1 year high of $324.37.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data 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 return on equity of 23.35% and a negative net margin of 8.59%. Research analysts forecast that Atlassian will post -0.55 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $278.79, for a total value of $2,215,822.92. Following the sale, the chief executive officer now directly owns 135,116 shares of the company’s stock, valued at approximately $37,668,989.64. This trade represents a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Gene Liu sold 785 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $240.00, for a total value of $188,400.00. Following the completion of the sale, the chief accounting officer now directly owns 57,938 shares in the company, valued at approximately $13,905,120. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 249,208 shares of company stock worth $63,572,404 over the last three months. Corporate insiders own 38.55% of the company’s stock.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC grew its position in shares of Atlassian by 17.5% in the fourth quarter. Global Retirement Partners LLC now owns 787 shares of the technology company’s stock valued at $192,000 after purchasing an additional 117 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Atlassian during the fourth quarter worth about $56,000. Atria Wealth Solutions Inc. acquired a new stake in Atlassian during the fourth quarter worth about $4,895,000. Venturi Wealth Management LLC grew its position in Atlassian by 4.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock worth $357,000 after buying an additional 56 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Atlassian by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 33,681 shares of the technology company’s stock worth $8,197,000 after buying an additional 1,739 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

About Atlassian

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.