Atlassian Co. (NASDAQ:TEAM) Short Interest Down 14.7% in April

Atlassian Co. (NASDAQ:TEAM) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 4,400,000 shares, a decrease of 14.7% from the March 31st total of 5,160,000 shares. Based on an average trading volume of 1,750,000 shares, the short-interest ratio is presently 2.5 days.

Insider Buying and Selling

In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $218.32, for a total transaction of $1,799,175.12. Following the sale, the chief executive officer now directly owns 263,712 shares in the company, valued at $57,573,603.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Atlassian news, CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $218.32, for a total transaction of $1,799,175.12. Following the completion of the transaction, the chief executive officer now directly owns 263,712 shares in the company, valued at approximately $57,573,603.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 4,139 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total transaction of $881,068.93. Following the completion of the sale, the president now directly owns 167,535 shares in the company, valued at approximately $35,663,175.45. The disclosure for this sale can be found here. Insiders have sold a total of 300,450 shares of company stock worth $60,491,996 in the last quarter. Company insiders own 40.48% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after buying an additional 504,181 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Atlassian by 3.3% in the fourth 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 in the last quarter. WCM Investment Management LLC increased its stake in shares of 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 purchasing an additional 249,017 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in shares of Atlassian by 1.1% in the 3rd quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock valued at $1,218,765,000 after purchasing an additional 63,903 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of several research analyst reports. Truist Financial dropped their price target on Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Citigroup reduced their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. UBS Group decreased their price objective on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Wells Fargo & Company raised their target price on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Finally, TD Cowen reduced their target price on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $223.22.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $172.30 on Wednesday. The firm’s 50-day simple moving average is $198.71 and its 200 day simple moving average is $206.41. The stock has a market cap of $44.70 billion, a P/E ratio of -273.49 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. Atlassian has a fifty-two week low of $128.02 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative return on equity of 15.54% and a negative net margin of 3.90%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company posted ($0.40) EPS. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. Equities analysts expect that Atlassian will post -0.42 EPS for the current year.

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.