Recent Analysts’ Ratings Changes for Atlassian (TEAM)

A number of research firms have changed their ratings and price targets for Atlassian (NASDAQ: TEAM):

  • 2/2/2024 – Atlassian had its “outperform” rating reaffirmed by analysts at William Blair.
  • 2/2/2024 – Atlassian had its price target lowered by analysts at UBS Group AG from $260.00 to $250.00. They now have a “neutral” rating on the stock.
  • 2/2/2024 – Atlassian had its price target raised by analysts at The Goldman Sachs Group, Inc. from $188.00 to $215.00. They now have a “neutral” rating on the stock.
  • 1/26/2024 – Atlassian was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 1/24/2024 – Atlassian had its price target raised by analysts at Wells Fargo & Company from $275.00 to $285.00. They now have an “overweight” rating on the stock.
  • 1/24/2024 – Atlassian had its price target raised by analysts at Barclays PLC from $165.00 to $250.00. They now have an “equal weight” rating on the stock.
  • 1/22/2024 – Atlassian had its price target raised by analysts at Citigroup Inc. from $215.00 to $280.00. They now have a “buy” rating on the stock.
  • 1/16/2024 – Atlassian had its price target raised by analysts at Truist Financial Co. from $180.00 to $220.00. They now have a “hold” rating on the stock.
  • 1/16/2024 – Atlassian had its price target raised by analysts at Mizuho from $240.00 to $265.00. They now have a “buy” rating on the stock.
  • 12/18/2023 – Atlassian is now covered by analysts at Capital One Financial Co.. They set an “equal weight” rating and a $238.00 price target on the stock.

Atlassian Stock Down 1.8 %

Atlassian stock traded down $3.79 during midday trading on Tuesday, reaching $211.26. The company’s stock had a trading volume of 2,705,396 shares, compared to its average volume of 1,919,571. The stock’s 50-day simple moving average is $227.08 and its 200-day simple moving average is $203.04. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.43 and a quick ratio of 1.43. Atlassian Co. has a 52-week low of $128.02 and a 52-week high of $258.69. The stock has a market capitalization of $54.52 billion, a P/E ratio of -141.78 and a beta of 0.70.

Insider Buying and Selling at Atlassian

In other news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $189.63, for a total value of $1,562,740.83. Following the completion of the transaction, the chief executive officer now directly owns 131,856 shares in the company, valued at $25,003,853.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Anutthara Bharadwaj sold 2,470 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $240.55, for a total value of $594,158.50. Following the completion of the transaction, the president now directly owns 171,674 shares in the company, valued at $41,296,180.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $189.63, for a total value of $1,562,740.83. Following the sale, the chief executive officer now directly owns 131,856 shares in the company, valued at $25,003,853.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,388 shares of company stock worth $67,176,552. 40.48% of the stock is owned by insiders.

Institutional Trading of Atlassian

Several hedge funds and other institutional investors have recently bought and sold shares of TEAM. Strs Ohio acquired a new stake in Atlassian in the second quarter valued at approximately $6,919,000. Franklin Resources Inc. boosted its stake in shares of Atlassian by 1.1% in the second quarter. Franklin Resources Inc. now owns 2,178,799 shares of the technology company’s stock worth $365,624,000 after acquiring an additional 23,452 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Atlassian by 12.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock worth $14,763,000 after acquiring an additional 8,073 shares during the last quarter. CWM LLC boosted its stake in shares of Atlassian by 75.1% in the second quarter. CWM LLC now owns 1,257 shares of the technology company’s stock worth $211,000 after acquiring an additional 539 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in shares of Atlassian by 3.7% in the third quarter. IFM Investors Pty Ltd now owns 29,967 shares of the technology company’s stock worth $6,039,000 after acquiring an additional 1,081 shares during the last quarter. 53.36% of the stock is owned by institutional investors and hedge funds.

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.

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