Anutthara Bharadwaj Sells 7,728 Shares of Atlassian Corporation PLC (NASDAQ:TEAM) Stock

Key Points

• Anutthara Bharadwaj, President of Atlassian Corporation PLC, sold 7,728 shares of company stock at an average price of $163.43, totaling approximately $1.26 million, resulting in a 4.06% decrease in their ownership.
• Atlassian's recent earnings showed an EPS of $0.98, exceeding expectations, with reported revenue of $1.38 billion, reflecting a 22.3% year-over-year increase.
• Despite price target reductions from various analysts, Atlassian holds a consensus rating of "Moderate Buy" with an average price target of $259.76.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) President Anutthara Bharadwaj sold 7,728 shares of Atlassian stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total value of $1,262,987.04. Following the sale, the president owned 182,801 shares of the company's stock, valued at approximately $29,875,167.43. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, May 19th, Anutthara Bharadwaj sold 1,731 shares of Atlassian stock. The stock was sold at an average price of $214.87, for a total value of $371,939.97.

Atlassian Stock Up 1.6%

Shares of NASDAQ:TEAM traded up $2.61 during midday trading on Friday, hitting $167.00. The stock had a trading volume of 2,742,190 shares, compared to its average volume of 2,409,158. The company has a market cap of $43.84 billion, a P/E ratio of -168.69 and a beta of 0.96. The business's 50-day simple moving average is $195.39 and its 200-day simple moving average is $223.24. Atlassian Corporation PLC has a 12 month low of $145.88 and a 12 month high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. The firm's revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. On average, sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. BMO Capital Markets decreased their price target on Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Capital One Financial lowered Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective on the stock. in a research report on Wednesday, July 16th. Cantor Fitzgerald lowered their price target on shares of Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Piper Sandler reissued an "overweight" rating and issued a $300.00 price target (down from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, Wells Fargo & Company reduced their target price on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Atlassian presently has an average rating of "Moderate Buy" and a consensus price target of $259.76.

Institutional Trading of Atlassian

A number of institutional investors have recently made changes to their positions in TEAM. Clean Yield Group lifted its position in Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after purchasing an additional 93 shares during the period. Capco Asset Management LLC acquired a new stake in Atlassian during the second quarter worth about $25,000. Colonial Trust Co SC boosted its holdings in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Smithfield Trust Co boosted its holdings in Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after buying an additional 78 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after acquiring an additional 161 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

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.

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