Atlassian Co. (NASDAQ:TEAM) President Sells $387,235.20 in Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the transaction, the president now owns 211,991 shares in the company, valued at $54,006,827.16. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 value of $407,798.79.
• On Friday, November 1st, Anutthara Bharadwaj sold 4,560 shares of Atlassian stock. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00.
• On Friday, October 18th, Anutthara Bharadwaj sold 760 shares of Atlassian stock. The stock was sold at an average price of $188.79, for a total value of $143,480.40.

Atlassian Trading Up 2.4 %

Shares of NASDAQ:TEAM traded up $6.03 during trading on Friday, hitting $257.26. The company had a trading volume of 3,001,502 shares, compared to its average volume of 1,881,926. The stock has a market cap of $67.00 billion, a price-to-earnings ratio of -169.25 and a beta of 0.80. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company has a fifty day simple moving average of $237.54 and a two-hundred day simple moving average of $190.08. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned ($0.07) earnings per share. Atlassian’s revenue was up 21.5% on a year-over-year basis. As a group, equities analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on TEAM. Wells Fargo & Company increased their target price on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. KeyCorp increased their price objective on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Macquarie initiated coverage on Atlassian in a research report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective on the stock. Scotiabank increased their target price on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, UBS Group boosted their price target on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $258.00.

Hedge Funds Weigh In On Atlassian

Several hedge funds have recently added to or reduced their stakes in the company. Asset Dedication LLC lifted its position in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Atlassian in the second quarter worth about $36,000. GAMMA Investing LLC increased its stake in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the period. True Wealth Design LLC lifted its holdings in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares in the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in Atlassian in the 3rd quarter valued at about $48,000. 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.