Robert W. Baird Lowers Atlassian (NASDAQ:TEAM) Price Target to $230.00

Atlassian (NASDAQ:TEAM) had its price objective reduced by Robert W. Baird from $270.00 to $230.00 in a report released on Friday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

TEAM has been the subject of several other research reports. Canaccord Genuity Group decreased their price target on shares of Atlassian from $260.00 to $230.00 and set a buy rating for the company in a report on Friday. Wells Fargo & Company increased their price target on Atlassian from $275.00 to $285.00 and gave the stock an overweight rating in a report on Wednesday, January 24th. Barclays upgraded Atlassian from an equal weight rating to an overweight rating and lifted their price objective for the company from $235.00 to $275.00 in a report on Thursday, April 11th. William Blair reissued an outperform rating on shares of Atlassian in a research note on Friday, February 2nd. Finally, Citigroup reduced their price target on shares of Atlassian from $280.00 to $265.00 and set a buy rating for the company in a report on Friday, April 12th. Eleven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $223.22.

Atlassian Trading Down 9.6 %

Shares of TEAM opened at $179.45 on Friday. Atlassian has a 1 year low of $128.02 and a 1 year high of $258.69. The stock’s 50-day moving average price is $199.98 and its two-hundred day moving average price is $206.53. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. Equities analysts expect that Atlassian will post -0.4 EPS for the current year.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 4,139 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $881,068.93. Following the sale, the president now directly owns 167,535 shares of the company’s stock, valued at approximately $35,663,175.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President Anutthara Bharadwaj sold 4,139 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $881,068.93. Following the sale, the president now owns 167,535 shares in the company, valued at approximately $35,663,175.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $253.53, for a total transaction of $2,089,340.73. Following the sale, the chief executive officer now owns 346,122 shares of the company’s stock, valued at approximately $87,752,310.66. The disclosure for this sale can be found here. Insiders sold a total of 300,450 shares of company stock worth $61,721,553 over the last quarter. 40.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atlassian

Hedge funds have recently bought and sold shares of the business. OFI Invest Asset Management acquired a new position in shares of Atlassian during the 3rd quarter worth approximately $26,000. Carmel Capital Partners LLC boosted its stake in shares of Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after buying an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after buying an additional 271 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Atlassian by 255.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after acquiring an additional 291 shares during the period. Finally, Operose Advisors LLC acquired a new position in Atlassian in the 3rd quarter valued at $99,000. 93.03% of the stock is owned by institutional investors.

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.