Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells 760 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 760 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $163.11, for a total value of $123,963.60. Following the transaction, the president now directly owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, July 19th, Anutthara Bharadwaj sold 760 shares of Atlassian stock. The stock was sold at an average price of $175.00, for a total value of $133,000.00.

Atlassian Trading Down 0.4 %

NASDAQ:TEAM opened at $161.90 on Thursday. The business’s 50-day moving average is $160.87 and its two-hundred day moving average is $174.53. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The firm has a market capitalization of $42.10 billion, a PE ratio of -256.98 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company posted ($0.21) earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. Research analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC purchased a new position in Atlassian in the second quarter valued at about $469,803,000. Price T Rowe Associates Inc. MD increased its position in shares of Atlassian by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after acquiring an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Atlassian during the second quarter worth about $91,072,000. Vanguard Group Inc. increased its position in shares of Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after acquiring an additional 504,181 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Atlassian during the first quarter worth about $55,307,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TEAM shares. Barclays decreased their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Mizuho decreased their price objective on Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $230.00 to $175.00 in a report on Friday, August 2nd. Finally, Oppenheimer restated an “outperform” rating and set a $230.00 price objective on shares of Atlassian in a report on Monday. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $217.69.

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.