Atlassian Co. (NASDAQ:TEAM) Short Interest Down 29.3% in April

Atlassian Co. (NASDAQ:TEAM - Get Free Report) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totalling 3,110,000 shares, a decline of 29.3% from the April 15th total of 4,400,000 shares. Based on an average trading volume of 1,680,000 shares, the days-to-cover ratio is presently 1.9 days.

Atlassian Stock Down 0.1 %

NASDAQ:TEAM traded down $0.10 during trading hours on Friday, hitting $179.75. 835,330 shares of the stock traded hands, compared to its average volume of 1,887,386. The firm has a 50 day moving average price of $194.63 and a 200 day moving average price of $205.85. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian has a fifty-two week low of $132.32 and a fifty-two week high of $258.69. The firm has a market cap of $46.79 billion, a price-to-earnings ratio of -285.32 and a beta of 0.67.

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

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the business's stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $178.93, for a total value of $1,474,562.13. Following the transaction, the chief executive officer now owns 284,040 shares in the company, valued at $50,823,277.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Gene Liu sold 227 shares of the business's stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the sale, the chief accounting officer now directly owns 47,066 shares of the company's stock, valued at $10,018,939.42. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 8,241 shares of the business's stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $178.93, for a total value of $1,474,562.13. Following the completion of the sale, the chief executive officer now directly owns 284,040 shares of the company's stock, valued at $50,823,277.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 308,691 shares of company stock worth $61,115,840. 40.48% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlassian

Large investors have recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in shares of Atlassian in the third quarter worth $26,000. Hollencrest Capital Management increased its stake in shares of Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company's stock worth $29,000 after acquiring an additional 119 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Atlassian in the first quarter worth $40,000. 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 acquiring an additional 271 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in Atlassian by 255.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company's stock worth $96,000 after buying an additional 291 shares during the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TEAM. The Goldman Sachs Group upped their target price on Atlassian from $188.00 to $215.00 and gave the company a "neutral" rating in a report on Friday, February 2nd. Oppenheimer decreased their price objective on Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, April 26th. Citigroup decreased their price objective on Atlassian from $280.00 to $265.00 and set a "buy" rating for the company in a report on Friday, April 12th. Mizuho decreased their price objective on Atlassian from $240.00 to $225.00 and set a "buy" rating for the company in a report on Friday, April 26th. Finally, Canaccord Genuity Group decreased their price objective on Atlassian from $260.00 to $230.00 and set a "buy" rating for the company in a report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $223.22.

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.