Atlassian (NASDAQ:TEAM) PT Lowered to $240.00 at Mizuho

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

Several other brokerages also recently commented on TEAM. KeyCorp started coverage on shares of Atlassian in a research note on Tuesday, March 19th. They issued a sector weight rating on the stock. Citigroup reduced their target price on shares of Atlassian from $280.00 to $265.00 and set a buy rating on the stock in a research note on Friday. Truist Financial boosted their target price on shares of Atlassian from $180.00 to $220.00 and gave the company a hold rating in a research note on Tuesday, January 16th. The Goldman Sachs Group boosted their target price 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. Finally, StockNews.com downgraded shares of Atlassian from a buy rating to a hold rating in a research report on Tuesday, March 19th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Atlassian has a consensus rating of Hold and an average target price of $224.25.

Atlassian Stock Performance

Atlassian stock traded down $14.69 on Monday, hitting $191.84. The company's stock had a trading volume of 2,109,146 shares, compared to its average volume of 1,706,910. The firm has a market cap of $49.76 billion, a P/E ratio of -128.75 and a beta of 0.63. 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 fifty day moving average price of $203.83 and a 200-day moving average price of $206.83. Atlassian has a one year low of $128.02 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. On average, equities analysts anticipate that Atlassian will post -0.4 earnings per share for the current year.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $192.21, for a total value of $1,584,002.61. Following the transaction, the chief executive officer now owns 24,723 shares of the company's stock, valued at approximately $4,752,007.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the firm's stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $192.21, for a total value of $1,584,002.61. Following the transaction, the chief executive officer now owns 24,723 shares of the company's stock, valued at approximately $4,752,007.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 2,470 shares of Atlassian stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $240.55, for a total transaction of $594,158.50. Following the transaction, the president now directly owns 171,674 shares in the company, valued at approximately $41,296,180.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 301,400 shares of company stock valued at $64,005,353. 40.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company's stock worth $3,652,495,000 after acquiring an additional 504,181 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Atlassian by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company's stock worth $2,435,095,000 after acquiring an additional 326,673 shares during the last quarter. WCM Investment Management LLC raised its holdings in Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company's stock worth $2,325,490,000 after buying an additional 249,017 shares during the period. Baillie Gifford & Co. raised its holdings in Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company's stock worth $2,094,980,000 after buying an additional 1,511,318 shares during the period. Finally, BlackRock Inc. raised its holdings in Atlassian by 26.0% during the 1st quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company's stock worth $1,294,640,000 after buying an additional 1,561,804 shares during the period. 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.