Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells $526,962.32 in Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction dated Wednesday, February 19th. The stock was 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 of the company’s stock, valued at approximately $61,147,814.56. The trade was a 0.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Anutthara Bharadwaj also recently made the following trade(s):

• On Friday, February 14th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The stock was 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

NASDAQ:TEAM opened at $285.99 on Friday. The stock has a market cap of $74.93 billion, a P/E ratio of -213.42 and a beta of 0.87. The stock has a 50 day simple moving average of $272.98 and a 200 day simple moving average of $223.27. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last released 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 return on equity of 17.37% and a negative net margin of 7.22%. Research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Oppenheimer raised their price target on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Canaccord Genuity Group raised their price target on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Raymond James restated an “outperform” rating and issued a $330.00 price target (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Wells Fargo & Company raised their price target on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and raised their price target for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in Atlassian in the 3rd quarter valued at $606,000. Sequoia Financial Advisors LLC raised its holdings in Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after acquiring an additional 520 shares in the last quarter. Fulton Bank N.A. acquired a new position in Atlassian in the 4th quarter valued at $447,000. Paloma Partners Management Co acquired a new position in Atlassian in the 3rd quarter valued at $1,588,000. Finally, Allworth Financial LP raised its holdings in Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares in the last quarter. 94.45% 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.