Anutthara Bharadwaj Sells 1,723 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 1,723 shares of Atlassian stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total value of $526,962.32. Following the completion of the transaction, the president now owns 199,934 shares in the company, valued at approximately $61,147,814.56. The trade was a 0.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, February 14th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The shares were sold at an average price of $312.58, for a total value of $475,121.60.
• On Friday, January 17th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The shares were sold at an average price of $259.85, for a total value of $394,972.00.
• On Friday, December 20th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The shares were sold at an average price of $254.76, for a total value of $387,235.20.

Atlassian Trading Down 4.2 %

NASDAQ TEAM opened at $285.99 on Friday. The business’s 50-day moving average price is $272.98 and its two-hundred day moving average price is $223.27. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The firm has a market capitalization of $74.93 billion, a PE ratio of -213.42 and a beta of 0.87. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp lifted its stake in shares of Atlassian by 6.2% in the 4th quarter. Mackenzie Financial Corp now owns 82,001 shares of the technology company’s stock valued at $19,957,000 after purchasing an additional 4,797 shares during the period. Toronto Dominion Bank lifted its stake in shares of Atlassian by 14.6% in the 4th quarter. Toronto Dominion Bank now owns 26,405 shares of the technology company’s stock valued at $6,426,000 after purchasing an additional 3,371 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Atlassian in the 4th quarter valued at about $7,447,000. University of Texas Texas AM Investment Management Co. raised its stake in Atlassian by 66.4% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 7,120 shares of the technology company’s stock worth $1,733,000 after buying an additional 2,842 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in Atlassian during the 4th quarter worth approximately $16,461,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent analyst reports. Cantor Fitzgerald lifted their price target on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Jefferies Financial Group boosted their price objective on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Truist Financial restated a “buy” rating and set a $350.00 price objective (up previously from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Wells Fargo & Company boosted their price objective on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Morgan Stanley boosted their price objective on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.71.

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.