Insider Selling: Atlassian Co. (NASDAQ:TEAM) CTO Sells $982,680.00 in Stock

Atlassian Co. (NASDAQ:TEAM) CTO Rajeev Bashyam Rajan sold 5,172 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $190.00, for a total value of $982,680.00. Following the transaction, the chief technology officer now owns 204,109 shares of the company’s stock, valued at approximately $38,780,710. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Rajeev Bashyam Rajan also recently made the following trade(s):

• On Friday, August 16th, Rajeev Bashyam Rajan sold 199 shares of Atlassian stock. The stock was sold at an average price of $146.08, for a total value of $29,069.92.

Atlassian Stock Up 1.7 %

Atlassian stock opened at $187.06 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. 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 $48.64 billion, a PE ratio of -161.26 and a beta of 0.73. The stock’s 50 day moving average price is $159.83 and its 200 day moving average price is $171.85.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TEAM shares. Canaccord Genuity Group raised their target price on Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets cut their target price on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird lowered Atlassian from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $230.00 to $175.00 in a research report on Friday, August 2nd. Wells Fargo & Company cut their price target on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Finally, Raymond James raised Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research report on Tuesday, October 1st. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $216.29.

Institutional Trading of Atlassian

Institutional investors have recently modified their holdings of the business. Hollencrest Capital Management boosted its stake in shares of Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares in the last quarter. Asset Dedication LLC boosted its position in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Trust Co. of Vermont grew its holdings in Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Atlassian in the second quarter valued at $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Atlassian in the first quarter valued at $40,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

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.