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

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

A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Atlassian from $275.00 to $285.00 and gave the stock an overweight rating in a report on Wednesday, January 24th. UBS Group lowered their price target on shares of Atlassian from $260.00 to $250.00 and set a neutral rating on the stock in a report on Friday, February 2nd. William Blair reiterated an outperform rating on shares of Atlassian in a research note on Friday, February 2nd. Canaccord Genuity Group reduced their price objective on shares of Atlassian from $260.00 to $230.00 and set a buy rating for the company in a research note on Friday. Finally, KeyCorp started coverage on shares of Atlassian in a research report on Tuesday, March 19th. They set a sector weight rating for the company. Eleven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $223.22.

Atlassian Price Performance

Atlassian stock opened at $179.45 on Friday. Atlassian has a 52 week low of $128.02 and a 52 week high of $258.69. The company’s 50 day moving average price is $199.98 and its two-hundred day moving average price is $206.59. 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 stock has a market cap of $46.55 billion, a P/E ratio of -284.84 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. On average, equities analysts predict that Atlassian will post -0.42 earnings per share for the current year.

Insider Buying and Selling

In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $191.53, for a total value of $1,578,398.73. Following the completion of the sale, the chief executive officer now directly owns 391,173 shares of the company’s stock, valued at $74,921,364.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $191.53, for a total value of $1,578,398.73. Following the completion of the sale, the chief executive officer now directly owns 391,173 shares of the company’s stock, valued at $74,921,364.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Rajeev Bashyam Rajan sold 872 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total transaction of $185,622.64. Following the completion of the sale, the chief technology officer now directly owns 142,103 shares of the company’s stock, valued at $30,249,465.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 292,209 shares of company stock worth $59,632,213. Corporate insiders own 40.48% of the company’s stock.

Institutional Trading of Atlassian

Several hedge funds have recently added to or reduced their stakes in the business. BLB&B Advisors LLC bought a new position in shares of Atlassian during the first quarter valued at about $344,000. UMB Bank n.a. raised its stake in shares of Atlassian by 6.8% during the first quarter. UMB Bank n.a. now owns 1,112 shares of the technology company’s stock valued at $217,000 after acquiring an additional 71 shares during the last quarter. Yousif Capital Management LLC raised its stake in shares of Atlassian by 11.3% during the first quarter. Yousif Capital Management LLC now owns 1,737 shares of the technology company’s stock valued at $339,000 after acquiring an additional 176 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new position in shares of Atlassian during the first quarter valued at about $353,000. Finally, Verdence Capital Advisors LLC raised its stake in shares of Atlassian by 14.0% during the first quarter. Verdence Capital Advisors LLC now owns 1,403 shares of the technology company’s stock valued at $274,000 after acquiring an additional 172 shares during the last quarter. 93.03% of the stock is owned by institutional investors.

About Atlassian

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.