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

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction that occurred on Friday, September 20th. The stock was 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 owns 143,966 shares of the company’s stock, valued at $23,482,294.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

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

Atlassian Stock Performance

NASDAQ TEAM opened at $162.62 on Wednesday. The company has a 50-day simple moving average of $161.22 and a two-hundred day simple moving average of $174.62. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The firm has a market cap of $42.33 billion, a price-to-earnings ratio of -258.13 and a beta of 0.73. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. Atlassian’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the company earned ($0.21) EPS. On average, equities analysts forecast that Atlassian Co. will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TEAM. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Atlassian during the 2nd quarter valued at $12,846,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Atlassian during the second quarter worth about $462,000. Sanctuary Advisors LLC bought a new stake in shares of Atlassian in the second quarter worth about $1,022,000. New Century Financial Group LLC purchased a new position in Atlassian during the 2nd quarter valued at about $397,000. Finally, Truist Financial Corp raised its position in Atlassian by 2.5% during the 2nd quarter. Truist Financial Corp now owns 84,358 shares of the technology company’s stock valued at $14,921,000 after purchasing an additional 2,050 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TEAM. BMO Capital Markets cut their price objective on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Scotiabank cut their target price on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $200.00 to $225.00 in a research note on Tuesday, July 2nd. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price 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.