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

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, October 18th. The stock was sold at an average price of $188.79, for a total transaction of $143,480.40. Following the sale, the president now owns 228,996 shares of the company’s stock, valued at $43,232,154.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 value of $123,963.60.

Atlassian Trading Down 2.6 %

Shares of TEAM stock opened at $188.76 on Thursday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a market cap of $49.08 billion, a price-to-earnings ratio of -162.72 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a 50 day simple moving average of $167.87 and a 200-day simple moving average of $171.66.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, equities research analysts expect that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TEAM. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Truist Financial reduced their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Barclays dropped their price objective on shares of 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 raised shares of Atlassian from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a report on Monday, September 23rd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.47.

Institutional Investors Weigh In On Atlassian

Several institutional investors have recently bought and sold shares of the company. Asset Dedication LLC lifted its position in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Hollencrest Capital Management lifted its holdings in Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after purchasing an additional 119 shares in the last quarter. Trust Co. of Vermont boosted its stake in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Atlassian during the second quarter worth $36,000. Finally, GAMMA Investing LLC raised its position in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

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.