Anutthara Bharadwaj Sells 1,520 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,520 shares of the business’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 value of $394,972.00. Following the completion of the sale, the president now owns 210,471 shares of the company’s stock, valued at $54,690,889.35. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 stock was 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 shares were 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 Price Performance

TEAM stock opened at $252.36 on Friday. 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 firm has a 50 day moving average price of $256.36 and a 200-day moving average price of $202.09. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The firm has a market capitalization of $65.72 billion, a price-to-earnings ratio of -166.03 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last released 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 for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) earnings per share. Equities research analysts forecast that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TEAM. Donoghue Forlines LLC increased its position in shares of Atlassian by 176.0% during the fourth quarter. Donoghue Forlines LLC now owns 7,779 shares of the technology company’s stock valued at $1,893,000 after acquiring an additional 4,961 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Atlassian by 66.8% during the 4th quarter. Avior Wealth Management LLC now owns 507 shares of the technology company’s stock valued at $123,000 after purchasing an additional 203 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Atlassian by 3,951.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company’s stock worth $36,432,000 after purchasing an additional 145,995 shares in the last quarter. Genesis Private Wealth LLC purchased a new position in shares of Atlassian in the fourth quarter worth $206,000. Finally, Sheets Smith Wealth Management bought a new position in shares of Atlassian during the fourth quarter valued at $706,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on TEAM shares. Oppenheimer raised their price objective on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Mizuho raised their price target on Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Truist Financial upgraded Atlassian from a “hold” rating to a “buy” rating and boosted their price objective for the company from $250.00 to $300.00 in a research report on Tuesday, January 7th. Jefferies Financial Group upped their price target on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, BMO Capital Markets upgraded shares of 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 issued a buy rating to the company. According to data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average 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.