Atlassian (NASDAQ:TEAM) Given New $240.00 Price Target at Mizuho

Atlassian (NASDAQ:TEAM) had its price target reduced by Mizuho from $265.00 to $240.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research firms have also recently commented on TEAM. StockNews.com cut Atlassian from a buy rating to a hold rating in a research report on Tuesday, March 19th. Capital One Financial began coverage on Atlassian in a research report on Monday, December 18th. They set an equal weight rating and a $238.00 target price on the stock. Wells Fargo & Company boosted their price target on Atlassian from $275.00 to $285.00 and gave the company an overweight rating in a research report on Wednesday, January 24th. UBS Group dropped their price target on Atlassian from $260.00 to $250.00 and set a neutral rating on the stock in a research report on Friday, February 2nd. Finally, KeyCorp began coverage on 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 nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $224.25.

Atlassian Stock Down 7.1 %

Shares of NASDAQ TEAM opened at $191.84 on Monday. The company has a market capitalization of $49.76 billion, a price-to-earnings ratio of -128.75 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50-day moving average of $203.83 and a two-hundred day moving average of $206.83. Atlassian has a 1 year low of $128.02 and a 1 year high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. On average, analysts forecast that Atlassian will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 2,470 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $240.55, for a total value of $594,158.50. Following the sale, the president now owns 171,674 shares of the company’s stock, valued at approximately $41,296,180.70. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $238.95, for a total value of $1,969,186.95. Following the completion of the transaction, the chief executive officer now directly owns 403,809 shares in the company, valued at approximately $96,490,160.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Anutthara Bharadwaj sold 2,470 shares of the business’s stock in a transaction on Friday, January 19th. The shares were 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 owns 171,674 shares of the company’s stock, valued at $41,296,180.70. The disclosure for this sale can be found here. Insiders have sold 293,159 shares of company stock valued at $62,026,607 in the last quarter. 40.48% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Graypoint LLC increased its holdings in shares of Atlassian by 2.4% during the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after buying an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC increased its holdings in shares of Atlassian by 1.4% during the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after buying an additional 43 shares during the last quarter. Park National Corp OH increased its holdings in shares of Atlassian by 3.5% during the 4th quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after buying an additional 48 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Atlassian by 5.7% during the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after buying an additional 56 shares during the last quarter. Finally, Carmel Capital Partners LLC increased its holdings in shares of Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

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.