Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells $407,798.79 in Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,659 shares of Atlassian stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total value of $407,798.79. Following the completion of the transaction, the president now owns 213,511 shares of the company’s stock, valued at approximately $52,483,138.91. The trade was a 0.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 shares were sold at an average price of $188.79, for a total value of $143,480.40.
• On Friday, September 20th, Anutthara Bharadwaj sold 760 shares of Atlassian stock. The stock was sold at an average price of $163.11, for a total transaction of $123,963.60.

Atlassian Stock Up 2.6 %

TEAM stock opened at $260.58 on Friday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $262.00. The business’s 50-day moving average price is $194.53 and its two-hundred day moving average price is $176.48. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the firm earned ($0.07) EPS. Atlassian’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, research analysts expect that Atlassian Co. will post -0.56 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its position in shares of Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after buying an additional 520 shares during the period. Impax Asset Management Group plc raised its position in Atlassian by 590.6% in the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after buying an additional 31,986 shares during the last quarter. Parnassus Investments LLC lifted its stake in Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after acquiring an additional 245,286 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Atlassian during the 3rd quarter worth approximately $97,350,000. Finally, Aigen Investment Management LP bought a new position in shares of Atlassian during the 3rd quarter worth approximately $2,232,000. Institutional investors own 93.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEAM. Piper Sandler upped their target price on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Robert W. Baird increased their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JMP Securities upgraded Atlassian to a “hold” rating in a research report on Friday, August 2nd. UBS Group raised their price target on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, BMO Capital Markets boosted their price objective on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $244.21.

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.