Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells $394,972.00 in Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the transaction, the president now owns 210,471 shares of the company’s stock, valued at approximately $54,690,889.35. This trade represents a 0.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 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 transaction of $1,028,052.00.

Atlassian Price Performance

Atlassian stock opened at $252.36 on Monday. The firm has a market capitalization of $65.72 billion, a PE ratio of -166.03 and a beta of 0.83. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. The firm’s 50-day simple moving average is $256.36 and its 200 day simple moving average is $202.23. 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 announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) 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 company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, equities research analysts predict that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC raised its stake in Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the period. Reston Wealth Management LLC acquired a new position in shares of Atlassian in the 3rd quarter valued at $48,000. Quarry LP grew its stake in shares of Atlassian by 143.8% during the 2nd quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after buying an additional 220 shares during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TEAM. Raymond James lifted their price target on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Piper Sandler upped their target price on shares of Atlassian from $265.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Oppenheimer lifted their price target on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Mizuho upped their price objective on shares of Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Wells Fargo & Company lifted their target price on shares of Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.