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

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

Other equities analysts have also recently issued reports about the company. Truist Financial increased their price target on Atlassian from $180.00 to $220.00 and gave the company a hold rating in a report on Tuesday, January 16th. 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 note on Wednesday, January 24th. Citigroup dropped their price objective on shares of Atlassian from $280.00 to $265.00 and set a buy rating on the stock in a report on Friday, April 12th. KeyCorp assumed coverage on shares of Atlassian in a report on Tuesday, March 19th. They set a sector weight rating for the company. Finally, The Goldman Sachs Group lifted their price target on shares of Atlassian from $188.00 to $215.00 and gave the stock a neutral rating in a research note on Friday, February 2nd. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $223.22.

Atlassian Price Performance

Shares of TEAM opened at $179.45 on Friday. The business’s fifty day simple moving average is $199.98 and its two-hundred day simple moving average is $206.53. 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.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, equities analysts expect that Atlassian will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $199.71, for a total transaction of $1,645,810.11. Following the completion of the transaction, the chief executive officer now owns 366,450 shares in the company, valued at approximately $73,183,729.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $199.71, for a total value of $1,645,810.11. Following the completion of the transaction, the chief executive officer now directly owns 366,450 shares of the company’s stock, valued at approximately $73,183,729.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Anutthara Bharadwaj sold 760 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.00, for a total transaction of $152,000.00. Following the completion of the sale, the president now owns 161,850 shares in the company, valued at $32,370,000. The disclosure for this sale can be found here. Over the last three months, insiders have sold 300,450 shares of company stock worth $61,721,553. Corporate insiders own 40.48% of the company’s stock.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently modified their holdings of TEAM. OFI Invest Asset Management purchased a new position in Atlassian during the third quarter worth $26,000. Carmel Capital Partners LLC lifted its holdings in shares of Atlassian by 28.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after acquiring an additional 57 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after acquiring an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Atlassian by 255.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after purchasing an additional 291 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Atlassian in the 4th quarter worth about $107,000. Hedge funds and other 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.