Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells 760 Shares of 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 is available through this hyperlink.

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 Down 0.7 %

Shares of TEAM traded down $1.10 during mid-day trading on Monday, hitting $161.98. 1,291,552 shares of the company’s stock were exchanged, compared to its average volume of 1,784,861. The company has a market cap of $42.16 billion, a PE ratio of -258.35 and a beta of 0.73. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a 50-day simple moving average of $161.99 and a 200 day simple moving average of $175.23. 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 issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the business earned ($0.21) EPS. On average, research analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Several large investors have recently made changes to their positions in TEAM. Dragoneer Investment Group LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at approximately $469,803,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after buying an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at approximately $91,072,000. Vanguard Group Inc. boosted its holdings in shares of 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 buying an additional 504,181 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Atlassian in the 1st quarter valued at approximately $55,307,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TEAM shares. The Goldman Sachs Group raised 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 note on Friday, August 2nd. Barclays lowered their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Morgan Stanley lowered their target price on Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday, July 17th. JMP Securities raised Atlassian to a “hold” rating in a research note on Friday, August 2nd. Finally, Scotiabank lowered their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $217.69.

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.