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

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $254.76, for a total value of $387,235.20. Following the transaction, the president now owns 211,991 shares in the company, valued at $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 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 transaction of $143,480.40.

Atlassian Stock Up 2.4 %

NASDAQ:TEAM opened at $257.26 on Monday. The company 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 quick ratio of 1.18 and a current ratio of 1.18. The stock’s fifty day moving average price is $237.54 and its two-hundred day moving average price is $190.54. Atlassian Co. has a 52-week low of $135.29 and a 52-week 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, beating the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. On average, analysts anticipate that Atlassian Co. will post -0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TEAM shares. BMO Capital Markets lifted their target price on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Morgan Stanley upped their price objective on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Jefferies Financial Group raised their target price on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. KeyCorp upped their price target on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Scotiabank lifted their price objective on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $258.00.

Institutional Investors Weigh In On Atlassian

Institutional investors have recently modified their holdings of the business. Dragoneer Investment Group LLC bought a new position in Atlassian in the second quarter valued at approximately $469,803,000. Point72 Asset Management L.P. lifted its stake in shares of Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after purchasing an additional 617,566 shares during the period. Two Sigma Advisers LP lifted its stake in shares of Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of Atlassian in the 3rd quarter worth $57,149,000. Finally, Parnassus Investments LLC grew its stake in shares of Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.