Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj Sells 2,470 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 2,470 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $208.44, for a total value of $514,846.80. Following the completion of the transaction, the president now directly owns 188,629 shares in the company, valued at $39,317,828.76. The sale was disclosed in a filing with the SEC, which is available through this link.

Anutthara Bharadwaj also recently made the following trade(s):

• On Monday, August 21st, Anutthara Bharadwaj sold 2,548 shares of Atlassian stock. The shares were sold at an average price of $184.35, for a total value of $469,723.80.
• On Friday, August 18th, Anutthara Bharadwaj sold 2,470 shares of Atlassian stock. The shares were sold at an average price of $181.81, for a total value of $449,070.70.
• On Monday, August 14th, Anutthara Bharadwaj sold 4,739 shares of Atlassian stock. The shares were sold at an average price of $199.99, for a total value of $947,752.61.
• On Friday, July 21st, Anutthara Bharadwaj sold 2,470 shares of Atlassian stock. The shares were sold at an average price of $176.98, for a total value of $437,140.60.

Atlassian Price Performance

Atlassian stock opened at $204.88 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $52.73 billion, a PE ratio of -108.40 and a beta of 0.70. Atlassian Co. has a 12 month low of $113.86 and a 12 month high of $246.15. The stock has a 50-day moving average price of $190.80 and a two-hundred day moving average price of $171.64.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, August 3rd. The technology company reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.04. The firm had revenue of $939.10 million during the quarter, compared to the consensus estimate of $911.23 million. Atlassian had a negative return on equity of 61.15% and a negative net margin of 13.77%. Analysts expect that Atlassian Co. will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

TEAM has been the topic of several analyst reports. Citigroup increased their target price on Atlassian from $195.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, August 29th. Wells Fargo & Company increased their target price on Atlassian from $200.00 to $230.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Berenberg Bank initiated coverage on Atlassian in a report on Thursday, June 29th. They set a “hold” rating and a $150.00 target price on the stock. Morgan Stanley reissued an “overweight” rating and set a $185.00 target price on shares of Atlassian in a report on Friday, August 4th. Finally, KeyCorp increased their target price on Atlassian from $175.00 to $205.00 in a report on Tuesday, July 18th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $199.81.

Hedge Funds Weigh In On Atlassian

Large investors have recently bought and sold shares of the company. Hall Laurie J Trustee acquired a new stake in shares of Atlassian in the second quarter valued at about $28,000. Meeder Asset Management Inc. increased its stake in shares of Atlassian by 151.5% in the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after buying an additional 147 shares during the period. Carmel Capital Partners LLC acquired a new stake in shares of Atlassian in the first quarter valued at about $34,000. Tyler Stone Wealth Management acquired a new stake in shares of Atlassian in the second quarter valued at about $34,000. Finally, CoreCap Advisors LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at about $39,000. 53.36% of the stock is currently 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.