Atlassian (NASDAQ:TEAM) PT Lowered to $240.00

Atlassian (NASDAQ:TEAM) had its price objective dropped by stock analysts at Mizuho from $265.00 to $240.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Mizuho’s price objective indicates a potential upside of 23.17% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Capital One Financial initiated coverage on Atlassian in a research report on Monday, December 18th. They set an “equal weight” rating and a $238.00 price objective for the company. UBS Group cut their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. The Goldman Sachs Group lifted their price objective on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Citigroup cut their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Finally, William Blair restated an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $224.25.

Atlassian Price Performance

TEAM stock opened at $194.85 on Monday. The firm has a 50 day moving average of $203.36 and a 200-day moving average of $206.79. Atlassian has a 12-month low of $128.02 and a 12-month high of $258.69. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The company has a market cap of $50.55 billion, a price-to-earnings ratio of -130.77 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last posted 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 net margin of 9.87% and a negative return on equity of 34.56%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. As a group, equities analysts expect that Atlassian will post -0.4 EPS for the current fiscal year.

Insider Activity

In other news, CAO Gene Liu sold 227 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $48,321.49. Following the completion of the sale, the chief accounting officer now directly owns 47,066 shares of the company’s stock, valued at approximately $10,018,939.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Anutthara Bharadwaj sold 2,470 shares of Atlassian stock in a transaction on Friday, January 19th. The shares were sold at an average price of $240.55, for a total transaction of $594,158.50. Following the transaction, the president now owns 171,674 shares in the company, valued at approximately $41,296,180.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Gene Liu sold 227 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 transaction of $48,321.49. Following the transaction, the chief accounting officer now owns 47,066 shares in the company, valued at approximately $10,018,939.42. The disclosure for this sale can be found here. Insiders sold 293,159 shares of company stock valued at $62,026,607 in the last ninety days. Company insiders own 40.48% of the company’s stock.

Hedge Funds Weigh In On Atlassian

Several hedge funds and other institutional investors have recently made changes to their positions in TEAM. Dimensional Fund Advisors LP lifted its holdings in shares of Atlassian by 29.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 201,552 shares of the technology company’s stock valued at $59,233,000 after acquiring an additional 46,418 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Atlassian by 6.0% during the 1st quarter. Cetera Investment Advisers now owns 1,755 shares of the technology company’s stock valued at $516,000 after acquiring an additional 100 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Atlassian by 7.9% during the 1st quarter. Baird Financial Group Inc. now owns 115,967 shares of the technology company’s stock valued at $34,075,000 after acquiring an additional 8,491 shares in the last quarter. Pearl River Capital LLC acquired a new position in shares of Atlassian during the 1st quarter valued at $1,163,000. Finally, USS Investment Management Ltd acquired a new position in shares of Atlassian during the 1st quarter valued at $6,015,000. 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.