Atlassian Co. (NASDAQ:TEAM) President Sells $407,798.79 in Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,659 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total value of $407,798.79. Following the completion of the sale, the president now owns 213,511 shares of the company’s stock, valued at $52,483,138.91. This trade represents a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 value of $1,028,052.00.
• 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 value of $143,480.40.
• On Friday, September 20th, Anutthara Bharadwaj sold 760 shares of Atlassian stock. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60.

Atlassian Stock Down 0.9 %

Shares of TEAM stock opened at $245.45 on Thursday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The firm has a market capitalization of $63.92 billion, a PE ratio of -161.48 and a beta of 0.71. 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 stock’s 50-day simple moving average is $191.18 and its 200-day simple moving average is $175.45.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business earned ($0.07) earnings per share. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities analysts expect that Atlassian Co. will post -0.56 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Advocates Investment Management boosted its position in Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after purchasing an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Atlassian by 1.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after acquiring an additional 65 shares during the period. Legacy Wealth Asset Management LLC raised its position in Atlassian by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after acquiring an additional 70 shares during the period. SkyView Investment Advisors LLC raised its position in shares of Atlassian by 2.1% during the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock worth $775,000 after purchasing an additional 80 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after buying an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TEAM. Canaccord Genuity Group lifted their price target on shares of Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a report on Friday, November 1st. BMO Capital Markets boosted their target price on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Scotiabank boosted their price objective on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Robert W. Baird increased their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Raymond James upped their price objective on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $244.21.

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.