Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells 760 Shares of Stock

Atlassian Co. (NASDAQ:TEAM - Get Free Report) President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction on Friday, May 17th. The stock was sold at an average price of $181.58, for a total transaction of $138,000.80. Following the sale, the president now owns 156,234 shares of the company's stock, valued at $28,368,969.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, May 14th, Anutthara Bharadwaj sold 4,856 shares of Atlassian stock. The stock was sold at an average price of $184.26, for a total value of $894,766.56.
• 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, April 19th, Anutthara Bharadwaj sold 760 shares of Atlassian stock. The shares were sold at an average price of $193.63, for a total value of $147,158.80.
• 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 value of $305,596.00.
• On Tuesday, February 20th, Anutthara Bharadwaj sold 2,645 shares of Atlassian stock. The shares were sold at an average price of $204.40, for a total value of $540,638.00.

Atlassian Trading Up 0.1 %

Shares of TEAM traded up $0.12 on Monday, hitting $179.84. 1,375,622 shares of the stock traded hands, compared to its average volume of 1,711,539. Atlassian Co. has a 1 year low of $145.21 and a 1 year high of $258.69. The stock's 50 day moving average is $192.61 and its two-hundred day moving average is $206.02. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $46.81 billion, a P/E ratio of -285.27 and a beta of 0.67.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.62 by $0.27. The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm's revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.40) EPS. As a group, sell-side analysts predict that Atlassian Co. will post -0.29 earnings per share for the current year.

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in TEAM. Teacher Retirement System of Texas lifted its position in Atlassian by 3.7% during the third quarter. Teacher Retirement System of Texas now owns 11,768 shares of the technology company's stock valued at $2,371,000 after buying an additional 419 shares in the last quarter. Wealthfront Advisers LLC increased its position in shares of Atlassian by 193.8% during the third quarter. Wealthfront Advisers LLC now owns 7,061 shares of the technology company's stock worth $1,423,000 after acquiring an additional 4,658 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Atlassian by 4.6% in the third quarter. Daiwa Securities Group Inc. now owns 18,532 shares of the technology company's stock worth $3,734,000 after acquiring an additional 818 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Atlassian by 13.4% in the third quarter. Venturi Wealth Management LLC now owns 1,324 shares of the technology company's stock valued at $267,000 after purchasing an additional 156 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in Atlassian by 24.6% during the 3rd quarter. California Public Employees Retirement System now owns 263,775 shares of the technology company's stock valued at $53,153,000 after purchasing an additional 52,018 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of research reports. KeyCorp began coverage on shares of Atlassian in a research note on Tuesday, March 19th. They issued a "sector weight" rating on the stock. Oppenheimer dropped their target price on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, April 26th. Barclays upgraded Atlassian from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. Citigroup lowered their target price on Atlassian from $280.00 to $265.00 and set a "buy" rating for the company in a report on Friday, April 12th. Finally, William Blair reiterated an "outperform" rating on shares of Atlassian in a research note on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $223.22.

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.

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