Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells 1,723 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,723 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total value of $526,962.32. Following the transaction, the president now owns 199,934 shares in the company, valued at approximately $61,147,814.56. This represents a 0.85 % decrease in their position. 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 Friday, February 14th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The shares were sold at an average price of $312.58, for a total value of $475,121.60.
• On Friday, January 17th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The shares were sold at an average price of $259.85, for a total value of $394,972.00.
• On Friday, December 20th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The shares were sold at an average price of $254.76, for a total value of $387,235.20.

Atlassian Stock Performance

TEAM stock traded down $5.23 during trading on Thursday, hitting $298.49. 1,738,644 shares of the company traded hands, compared to its average volume of 2,066,644. The stock’s 50-day simple moving average is $272.45 and its 200 day simple moving average is $221.16. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $78.20 billion, a PE ratio of -222.75 and a beta of 0.87. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TEAM. The Goldman Sachs Group raised their price objective on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. Cantor Fitzgerald raised their price objective on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Raymond James reissued an “outperform” rating and issued a $330.00 price target (up previously from $250.00) on shares of Atlassian in a report on Friday, January 31st. Finally, Robert W. Baird raised their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Baillie Gifford & Co. increased its position in shares of Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after buying an additional 78,454 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after buying an additional 1,806,042 shares in the last quarter. State Street Corp increased its position in shares of Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after buying an additional 8,957 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Atlassian in the fourth quarter valued at approximately $687,486,000. Finally, Invesco Ltd. increased its position in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after buying an additional 1,777,179 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.