Insider Selling: Atlassian Co. (NASDAQ:TEAM) CTO Sells $29,069.92 in Stock

Atlassian Co. (NASDAQ:TEAM) CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, May 23rd, Rajeev Bashyam Rajan sold 445 shares of Atlassian stock. The stock was sold at an average price of $175.90, for a total value of $78,275.50.

Atlassian Stock Performance

NASDAQ TEAM opened at $158.34 on Thursday. The stock has a market cap of $41.22 billion, a PE ratio of -251.33 and a beta of 0.74. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The stock has a fifty day simple moving average of $165.50 and a 200-day simple moving average of $182.47. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 18.13%. Atlassian’s revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) earnings per share. Equities analysts anticipate that Atlassian Co. will post -0.57 earnings per share for the current year.

Institutional Trading of Atlassian

Several institutional investors have recently added to or reduced their stakes in the stock. Asset Dedication LLC boosted its position in shares of 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 buying an additional 108 shares during the period. Hollencrest Capital Management boosted its holdings in Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Trust Co. of Vermont grew its position in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new position in Atlassian in the 2nd quarter valued at about $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian during the first quarter worth about $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent research reports. Morgan Stanley lowered their target price on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Wells Fargo & Company lowered their price target on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Mizuho cut their price objective on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. JMP Securities upgraded Atlassian to a “hold” rating in a report on Friday, August 2nd. Finally, Robert W. Baird lowered Atlassian from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $230.00 to $175.00 in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $217.69.

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.