Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells $123,963.60 in Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the completion of the sale, the president now directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, July 19th, Anutthara Bharadwaj sold 760 shares of Atlassian stock. The shares were sold at an average price of $175.00, for a total value of $133,000.00.

Atlassian Stock Performance

NASDAQ TEAM opened at $161.90 on Thursday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a market capitalization of $42.10 billion, a P/E ratio of -256.98 and a beta of 0.73. The business has a 50 day moving average price of $160.87 and a 200 day moving average price of $174.53. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating 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 firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted ($0.21) EPS. Atlassian’s quarterly revenue was up 20.5% on a year-over-year basis. Sell-side analysts expect that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TEAM. Wells Fargo & Company decreased their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. Morgan Stanley decreased their price objective on Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Mizuho decreased their price objective on Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Finally, Scotiabank decreased their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and eleven have given 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 $217.69.

Hedge Funds Weigh In On Atlassian

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares in the last quarter. Diversified Trust Co increased its position in Atlassian by 27.6% during the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock worth $2,739,000 after buying an additional 3,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Atlassian by 7.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock worth $27,723,000 after buying an additional 10,434 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Atlassian by 2.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $34,213,000 after buying an additional 3,687 shares in the last quarter. Finally, Alberta Investment Management Corp increased its position in Atlassian by 16.1% during the fourth quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock worth $22,885,000 after buying an additional 13,328 shares in the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

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.