Anutthara Bharadwaj Sells 1,723 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,723 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total value of $526,962.32. Following the completion of the sale, the president now directly owns 199,934 shares in the company, valued at approximately $61,147,814.56. This represents a 0.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, February 14th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The shares were sold at an average price of $312.58, for a total value of $475,121.60.
• On Friday, January 17th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00.
• 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.

Atlassian Stock Performance

Shares of Atlassian stock opened at $285.99 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $74.93 billion, a P/E ratio of -213.42 and a beta of 0.87. The firm has a 50 day simple moving average of $272.83 and a 200 day simple moving average of $221.70. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Sell-side analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC grew its holdings in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after acquiring an additional 69 shares during the period. Summit Securities Group LLC acquired a new stake in Atlassian during the 4th quarter worth $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian during the 4th quarter worth $39,000. Finally, Avion Wealth grew its holdings in Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after acquiring an additional 157 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TEAM. Morgan Stanley increased their target price on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. KeyCorp increased their target price on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Truist Financial reiterated a “buy” rating and issued a $350.00 target price (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Raymond James reiterated an “outperform” rating and issued a $330.00 target price (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, Robert W. Baird raised their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

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.