Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells 1,520 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $259.85, for a total value of $394,972.00. Following the sale, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, December 20th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The shares were sold at an average price of $254.76, for a total value of $387,235.20.
• On Tuesday, November 19th, Anutthara Bharadwaj sold 1,659 shares of Atlassian stock. The stock was sold at an average price of $245.81, for a total transaction of $407,798.79.
• On Friday, November 1st, Anutthara Bharadwaj sold 4,560 shares of Atlassian stock. The stock was sold at an average price of $225.45, for a total transaction of $1,028,052.00.

Atlassian Stock Performance

Shares of Atlassian stock opened at $252.36 on Friday. The business has a 50-day simple moving average of $256.36 and a 200-day simple moving average of $201.95. The company has a market cap of $65.72 billion, a PE ratio of -166.03 and a beta of 0.83. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. On average, equities research analysts forecast that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC grew its stake in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. GAMMA Investing LLC raised its stake in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the last quarter. Reston Wealth Management LLC acquired a new position in Atlassian in the third quarter valued at $48,000. Quarry LP boosted its stake in Atlassian by 143.8% in the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock worth $66,000 after buying an additional 220 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after buying an additional 82 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on TEAM. Macquarie initiated coverage on shares of Atlassian in a report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price target on the stock. Mizuho raised their target price on Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Jefferies Financial Group boosted their price target on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company increased their target price on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Finally, BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.00.

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.