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

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $193.63, for a total transaction of $147,158.80. Following the sale, the president now directly owns 162,610 shares in the company, valued at approximately $31,486,174.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, March 15th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The shares were sold at an average price of $201.05, for a total transaction of $305,596.00.
• On Tuesday, February 20th, Anutthara Bharadwaj sold 2,645 shares of Atlassian stock. The shares were sold at an average price of $204.40, for a total transaction of $540,638.00.
• On Wednesday, February 14th, Anutthara Bharadwaj sold 4,139 shares of Atlassian stock. The shares were sold at an average price of $212.87, for a total transaction of $881,068.93.

Atlassian Stock Performance

Shares of Atlassian stock traded up $2.72 during midday trading on Monday, hitting $194.27. The company had a trading volume of 1,689,130 shares, compared to its average volume of 1,704,024. The stock has a market cap of $50.40 billion, a price-to-earnings ratio of -128.56 and a beta of 0.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The company has a fifty day simple moving average of $201.83 and a 200 day simple moving average of $206.76. Atlassian Co. has a 12-month low of $128.02 and a 12-month high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. As a group, analysts predict that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently modified their holdings of the stock. OFI Invest Asset Management purchased a new position in Atlassian during the 3rd quarter worth approximately $26,000. Carmel Capital Partners LLC raised its position in Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after buying an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Atlassian by 255.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after buying an additional 291 shares during the last quarter. Finally, Operose Advisors LLC purchased a new position in Atlassian during the 3rd quarter worth approximately $99,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. The Goldman Sachs Group boosted their price objective on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. UBS Group cut their price objective on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Truist Financial boosted their price objective on shares of Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Finally, KeyCorp initiated coverage on shares of Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $224.25.

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.