Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj Sells 1,520 Shares

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,520 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the sale, the president now owns 211,991 shares of the company’s stock, 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 SEC, which is accessible through the SEC website.

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

• On Tuesday, November 19th, Anutthara Bharadwaj sold 1,659 shares of Atlassian stock. The shares were 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 transaction 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 Performance

TEAM traded up $6.03 on Friday, reaching $257.26. 3,001,502 shares of the stock were exchanged, compared to its average volume of 1,881,926. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company’s 50-day moving average price is $237.54 and its 200 day moving average price is $190.08. The firm has a market capitalization of $67.00 billion, a PE ratio of -169.25 and a beta of 0.80. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Institutional Trading of Atlassian

A number of hedge funds have recently modified their holdings of the stock. Asset Dedication LLC lifted its holdings in 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 during the period. Rothschild Investment LLC purchased a new stake in shares of Atlassian during the second quarter worth about $36,000. GAMMA Investing LLC lifted its stake in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares in the last quarter. True Wealth Design LLC lifted its stake in Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares in the last quarter. Finally, Reston Wealth Management LLC acquired a new stake in Atlassian in the 3rd quarter worth about $48,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Macquarie started coverage on Atlassian in a report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price target on the stock. Scotiabank upped their price objective on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Truist Financial lifted their target price on Atlassian from $200.00 to $250.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Finally, Jefferies Financial Group increased their price target on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $258.00.

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.