Insider Selling: Atlassian Co. (NASDAQ:TEAM) Director Sells $338,175.00 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Heather Mirjahangir Fernandez sold 1,500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total transaction of $338,175.00. Following the transaction, the director now owns 8,610 shares in the company, valued at approximately $1,941,124.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Heather Mirjahangir Fernandez also recently made the following trade(s):

• On Friday, October 11th, Heather Mirjahangir Fernandez sold 750 shares of Atlassian stock. The shares were sold at an average price of $185.50, for a total value of $139,125.00.

Atlassian Trading Up 1.8 %

TEAM opened at $225.57 on Thursday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The stock has a market capitalization of $58.65 billion, a PE ratio of -148.40 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a 50-day moving average price of $176.79 and a two-hundred day moving average price of $171.90.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) earnings per share. As a group, equities analysts anticipate that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Asset Dedication LLC raised its position in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Atlassian during the second quarter worth $36,000. Edmond DE Rothschild Holding S.A. bought a new stake in Atlassian in the first quarter valued at about $40,000. Finally, Crewe Advisors LLC acquired a new position in Atlassian in the first quarter valued at about $43,000. 93.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on TEAM shares. Canaccord Genuity Group boosted their price objective on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, November 1st. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their price target for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Piper Sandler raised their price objective on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Truist Financial upped their target price on shares of Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Scotiabank raised their price target on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research note 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 MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average price target of $243.16.

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.