Insider Selling: Atlassian Co. (NASDAQ:TEAM) CTO Sells 5,172 Shares of Stock

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

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

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

Atlassian Price Performance

TEAM stock traded up $3.06 during midday trading on Friday, reaching $187.06. The stock had a trading volume of 2,968,411 shares, compared to its average volume of 1,781,319. The company’s fifty day simple moving average is $158.96 and its 200 day simple moving average is $172.04. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market cap of $48.64 billion, a price-to-earnings ratio of -161.26 and a beta of 0.73. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm earned ($0.21) EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday. Barclays lowered their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Canaccord Genuity Group boosted their target price on shares of Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $230.00 price target on shares of Atlassian in a research note on Monday, September 23rd. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $216.29.

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently modified their holdings of TEAM. Asset Dedication LLC increased its position in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Hollencrest Capital Management increased its position in shares of Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares during the last quarter. Trust Co. of Vermont increased its position in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian during the 2nd quarter worth about $36,000. Finally, GAMMA Investing LLC increased its position 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 purchasing an additional 96 shares during the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

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.