Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells $147,158.80 in Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $193.63, for a total transaction of $147,158.80. Following the transaction, the president now owns 162,610 shares of the company’s stock, valued at approximately $31,486,174.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, April 23rd, Anutthara Bharadwaj sold 760 shares of Atlassian stock. The stock was sold at an average price of $200.00, for a total transaction of $152,000.00.
• On Friday, March 15th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The stock was sold at an average price of $201.05, for a total transaction of $305,596.00.
• On Tuesday, February 20th, Anutthara Bharadwaj sold 2,645 shares of Atlassian stock. The stock was sold at an average price of $204.40, for a total transaction of $540,638.00.
• On Wednesday, February 14th, Anutthara Bharadwaj sold 4,139 shares of Atlassian stock. The stock was sold at an average price of $212.87, for a total transaction of $881,068.93.

Atlassian Trading Down 0.2 %

TEAM stock opened at $199.01 on Thursday. The company has a market capitalization of $51.62 billion, a PE ratio of -133.56 and a beta of 0.63. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The company’s 50 day moving average price is $200.84 and its two-hundred day moving average price is $206.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, analysts predict that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on TEAM shares. The Goldman Sachs Group increased their target price on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Mizuho cut their price objective on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, April 15th. Wells Fargo & Company raised their price objective on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $224.25.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Atlassian in the third quarter worth $26,000. Carmel Capital Partners LLC increased its stake in shares of Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after buying an additional 271 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Atlassian by 255.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after acquiring an additional 291 shares in the last quarter. Finally, Operose Advisors LLC bought a new stake in Atlassian in the third quarter valued at $99,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

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.