Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells 4,560 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 4,560 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $1,028,052.00. Following the completion of the sale, the president now owns 224,436 shares of the company’s stock, valued at approximately $50,599,096.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Friday, October 18th, Anutthara Bharadwaj sold 760 shares of Atlassian stock. The shares were sold at an average price of $188.79, for a total transaction of $143,480.40.
• On Friday, September 20th, Anutthara Bharadwaj sold 760 shares of Atlassian stock. The shares were sold at an average price of $163.11, for a total value of $123,963.60.

Atlassian Stock Up 1.8 %

Atlassian stock opened at $225.57 on Thursday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The firm has a market cap of $58.65 billion, a price-to-earnings ratio of -148.40 and a beta of 0.71. The business’s 50-day moving average price is $176.79 and its 200 day moving average price is $171.90. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned ($0.07) EPS. The business’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently modified their holdings of the company. CIBC Asset Management Inc boosted its position in Atlassian by 4.4% during the third quarter. CIBC Asset Management Inc now owns 31,942 shares of the technology company’s stock worth $5,073,000 after purchasing an additional 1,358 shares in the last quarter. Impax Asset Management Group plc grew its stake in Atlassian by 590.6% in the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after acquiring an additional 31,986 shares during the period. Palo Alto Wealth Advisors LLC purchased a new stake in Atlassian in the 3rd quarter worth $481,000. Tokio Marine Asset Management Co. Ltd. raised its position in Atlassian by 5.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,836 shares of the technology company’s stock worth $768,000 after acquiring an additional 238 shares during the period. Finally, Metis Global Partners LLC lifted its holdings in Atlassian by 12.9% during the third quarter. Metis Global Partners LLC now owns 4,030 shares of the technology company’s stock valued at $640,000 after purchasing an additional 459 shares in the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Truist Financial upped their price objective on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and raised their price target for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective for the company in a research note on Thursday, July 11th. BMO Capital Markets raised their target price on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Finally, Oppenheimer increased their price objective on Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $243.16.

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.