Atlassian (NASDAQ:TEAM) PT Lowered to $225.00 at Mizuho

Atlassian (NASDAQ:TEAM) had its price target decreased by Mizuho from $240.00 to $225.00 in a research report sent to investors on Friday, Benzinga reports. Mizuho currently has a buy rating on the technology company’s stock.

A number of other equities research analysts also recently weighed in on the company. Citigroup dropped their target price on Atlassian from $280.00 to $265.00 and set a buy rating for the company in a research report on Friday, April 12th. Wells Fargo & Company increased their price target on Atlassian from $275.00 to $285.00 and gave the company an overweight rating in a research note on Wednesday, January 24th. Canaccord Genuity Group reduced their price objective on shares of Atlassian from $260.00 to $230.00 and set a buy rating on the stock in a research note on Friday. Truist Financial boosted their target price on Atlassian from $180.00 to $220.00 and gave the company a hold rating in a research note on Tuesday, January 16th. Finally, KeyCorp started coverage on shares of Atlassian in a research report on Tuesday, March 19th. They issued a sector weight rating on the stock. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $223.22.

Atlassian Stock Down 1.3 %

Shares of NASDAQ TEAM opened at $177.07 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The company has a market cap of $45.93 billion, a price-to-earnings ratio of -281.06 and a beta of 0.63. Atlassian has a 12-month low of $128.02 and a 12-month high of $258.69. The firm’s 50-day simple moving average is $199.36 and its 200 day simple moving average is $206.52.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the firm earned ($0.40) earnings per share. Atlassian’s revenue was up 29.9% compared to the same quarter last year. On average, research analysts expect that Atlassian will post -0.42 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.76, for a total transaction of $2,074,754.16. Following the completion of the sale, the chief executive officer now directly owns 329,640 shares in the company, valued at approximately $82,990,166.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $251.76, for a total transaction of $2,074,754.16. Following the sale, the chief executive officer now directly owns 329,640 shares in the company, valued at $82,990,166.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Anutthara Bharadwaj sold 4,139 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $881,068.93. Following the completion of the transaction, the president now owns 167,535 shares of the company’s stock, valued at $35,663,175.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 300,450 shares of company stock worth $61,106,939. Corporate insiders own 40.48% of the company’s stock.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its position in shares of Atlassian by 123.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 61,856 shares of the technology company’s stock worth $12,069,000 after buying an additional 34,204 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Atlassian by 9.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,198 shares of the technology company’s stock valued at $234,000 after acquiring an additional 105 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Atlassian by 17.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 16,610 shares of the technology company’s stock worth $3,241,000 after acquiring an additional 2,504 shares in the last quarter. BLB&B Advisors LLC bought a new position in shares of Atlassian in the first quarter worth about $344,000. Finally, UMB Bank n.a. boosted its stake in shares of Atlassian by 6.8% in the 1st quarter. UMB Bank n.a. now owns 1,112 shares of the technology company’s stock valued at $217,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds 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.