Mizuho Cuts Atlassian (NASDAQ:TEAM) Price Target to $225.00

Atlassian (NASDAQ:TEAM) had its price objective reduced by Mizuho from $240.00 to $225.00 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group boosted their price objective on shares of Atlassian from $188.00 to $215.00 and gave the company a neutral rating in a research note on Friday, February 2nd. KeyCorp assumed coverage on shares of Atlassian in a research report on Tuesday, March 19th. They set a sector weight rating for the company. Truist Financial upped their price target on shares of Atlassian from $180.00 to $220.00 and gave the stock a hold rating in a report on Tuesday, January 16th. Wells Fargo & Company lifted their price objective on Atlassian from $275.00 to $285.00 and gave the company an overweight rating in a research note on Wednesday, January 24th. Finally, UBS Group decreased their target price on Atlassian from $260.00 to $250.00 and set a neutral rating on the stock in a research note on Friday, February 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Atlassian presently has an average rating of Moderate Buy and an average target price of $223.22.

Atlassian Stock Down 1.3 %

Atlassian stock 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 capitalization of $45.93 billion, a P/E ratio of -281.06 and a beta of 0.63. The firm has a 50 day moving average price of $199.36 and a 200-day moving average price of $206.52. Atlassian has a twelve month low of $128.02 and a twelve month high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. The company’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter last year, the business earned ($0.40) earnings per share. As a group, equities analysts predict that Atlassian will post -0.42 EPS for the current year.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 4,139 shares of Atlassian stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $881,068.93. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. In related news, President Anutthara Bharadwaj sold 4,139 shares of the firm’s 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 completion of the sale, the president now directly owns 167,535 shares in the company, valued at $35,663,175.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Gene Liu sold 227 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 transaction of $48,321.49. Following the transaction, the chief accounting officer now owns 47,066 shares in the company, valued at $10,018,939.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 300,450 shares of company stock worth $61,106,939. Insiders own 40.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Atlassian by 12.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock worth $14,763,000 after purchasing an additional 8,073 shares during the period. Arkadios Wealth Advisors bought a new stake in Atlassian during the 4th quarter valued at $202,000. American Century Companies Inc. lifted its stake in shares of Atlassian by 58.7% during the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after purchasing an additional 159,102 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Atlassian during the fourth quarter valued at about $13,805,000. Finally, Royal Bank of Canada grew its stake in Atlassian by 17.3% in the third quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after purchasing an additional 56,149 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.