Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj Sells 1,659 Shares

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

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

Atlassian Price Performance

TEAM stock opened at $245.45 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a 50 day moving average price of $191.18 and a 200-day moving average price of $175.45. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The firm has a market capitalization of $63.92 billion, a price-to-earnings ratio of -161.48 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities research analysts forecast that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Asset Dedication LLC lifted its position in Atlassian by 229.8% in 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 in the last quarter. Trust Co. of Vermont lifted its stake in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Atlassian during the 2nd quarter valued at about $36,000. GAMMA Investing LLC raised its stake in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the period. Institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TEAM shares. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and upped their price target for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Morgan Stanley increased their target price on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Jefferies Financial Group boosted their price target on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Piper Sandler lifted their price objective on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Robert W. Baird upped their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $244.21.

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.