Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells 1,520 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the sale, the president now owns 211,991 shares in the company, valued at approximately $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction 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 transaction of $407,798.79.
• On Friday, November 1st, Anutthara Bharadwaj sold 4,560 shares of Atlassian stock. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00.
• On Friday, October 18th, Anutthara Bharadwaj sold 760 shares of Atlassian stock. The stock was sold at an average price of $188.79, for a total value of $143,480.40.

Atlassian Stock Performance

Shares of TEAM opened at $257.26 on Monday. 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 firm has a 50-day moving average of $237.54 and a 200-day moving average of $190.54. The company has a market cap of $67.00 billion, a PE ratio of -169.25 and a beta of 0.80. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97.

Atlassian (NASDAQ:TEAM) last posted its quarterly 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. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Atlassian’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) earnings per share. As a group, equities analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Macquarie began coverage on Atlassian in a research report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective for the company. Oppenheimer increased their price objective on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group boosted their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday. KeyCorp increased their target price on Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Mizuho boosted their price target on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $258.00.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in Atlassian by 61.4% during the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock worth $1,710,000 after purchasing an additional 4,099 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in shares of Atlassian during the 3rd quarter worth about $11,438,000. Tri Ri Asset Management Corp bought a new stake in shares of Atlassian during the 3rd quarter worth about $2,584,000. Synovus Financial Corp grew its stake in Atlassian by 26.4% in the 3rd quarter. Synovus Financial Corp now owns 19,962 shares of the technology company’s stock valued at $3,170,000 after buying an additional 4,173 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in Atlassian by 143.2% in the 3rd quarter. Tidal Investments LLC now owns 12,605 shares of the technology company’s stock valued at $2,002,000 after acquiring an additional 7,422 shares during the period. Institutional investors own 94.45% of the company’s stock.

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.