Atlassian (NASDAQ:TEAM) Given New $355.00 Price Target at Mizuho

Atlassian (NASDAQ:TEAM) had its target price raised by Mizuho from $285.00 to $355.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other equities research analysts have also recently issued reports on TEAM. Raymond James lifted their price objective on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group increased their target price on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Robert W. Baird boosted their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Cantor Fitzgerald assumed coverage on Atlassian in a research note on Friday, January 17th. They issued a “neutral” rating and a $264.00 price objective on the stock. Finally, UBS Group increased their target price on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.00.

Atlassian Price Performance

TEAM opened at $306.78 on Friday. Atlassian has a twelve month low of $135.29 and a twelve month high of $324.37. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50 day moving average price of $260.51 and a 200-day moving average price of $208.06.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. As a group, equities research analysts predict that Atlassian will post -0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other Atlassian news, President Anutthara Bharadwaj sold 1,659 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total value of $407,798.79. Following the completion of the sale, the president now owns 213,511 shares of the company’s stock, valued at $52,483,138.91. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the completion of the transaction, the director now owns 309,972 shares of the company’s stock, valued at $67,905,566.04. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 257,156 shares of company stock worth $65,313,573 over the last three months. 38.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allworth Financial LP raised its position in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after purchasing an additional 47 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Atlassian by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after buying an additional 54 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Atlassian by 4.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock valued at $357,000 after acquiring an additional 56 shares in the last quarter. J.W. Cole Advisors Inc. grew its holdings in Atlassian by 1.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock worth $963,000 after acquiring an additional 59 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its holdings in Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.