Atlassian Co. (NASDAQ:TEAM) President Sells $394,972.00 in Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the sale, the president now owns 210,471 shares of the company’s stock, valued at $54,690,889.35. This trade represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 transaction 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 value of $1,028,052.00.

Atlassian Trading Down 0.7 %

Shares of NASDAQ TEAM traded down $1.89 during midday trading on Friday, reaching $252.36. The stock had a trading volume of 1,192,393 shares, compared to its average volume of 1,794,803. Atlassian Co. has a twelve month low of $135.29 and a twelve month 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. The company’s 50 day moving average price is $256.07 and its 200 day moving average price is $201.44. The firm has a market cap of $65.72 billion, a price-to-earnings ratio of -166.03 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts expect that Atlassian Co. will post -0.55 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on TEAM shares. Raymond James increased their price objective on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Jefferies Financial Group lifted their price objective on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley boosted their price objective on shares of Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group raised their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Scotiabank boosted their price target on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $272.00.

Institutional Investors Weigh In On Atlassian

A number of hedge funds have recently added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC acquired a new stake in shares of Atlassian during the 2nd quarter worth approximately $469,803,000. Point72 Asset Management L.P. grew its holdings in Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after purchasing an additional 617,566 shares during the period. Two Sigma Advisers LP increased its stake in Atlassian by 122.0% in the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Atlassian during the third quarter valued at about $57,149,000. Finally, Parnassus Investments LLC boosted its position in shares of Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares in the last quarter. 94.45% 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.