Rajeev Bashyam Rajan Sells 5,172 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CTO Rajeev Bashyam Rajan sold 5,172 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $190.00, for a total value of $982,680.00. Following the completion of the sale, the chief technology officer now directly owns 204,109 shares of the company’s stock, valued at approximately $38,780,710. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Rajeev Bashyam Rajan also recently made the following trade(s):

• On Friday, August 16th, Rajeev Bashyam Rajan sold 199 shares of Atlassian stock. The shares were sold at an average price of $146.08, for a total value of $29,069.92.

Atlassian Stock Up 1.7 %

Shares of TEAM opened at $187.06 on Friday. 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 Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The firm’s 50 day moving average price is $159.83 and its 200 day moving average price is $171.99.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the firm earned ($0.21) earnings per share. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, analysts predict that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TEAM. Barclays lowered their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. BMO Capital Markets dropped their price target on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research note on Friday, August 2nd. Truist Financial reduced their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Raymond James upgraded Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research report on Tuesday, October 1st. Finally, Scotiabank decreased their price target on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $216.29.

Hedge Funds Weigh In On Atlassian

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hollencrest Capital Management raised its holdings in Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares in the last quarter. Asset Dedication LLC raised its holdings in shares of 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 purchasing an additional 108 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of Atlassian by 2,175.0% during the 2nd 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 last quarter. Rothschild Investment LLC purchased a new stake in shares of Atlassian during the 2nd quarter worth $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Atlassian during the first quarter worth $40,000. 93.03% of the stock is owned by institutional investors and hedge funds.

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.