Anutthara Bharadwaj Sells 3,780 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM – Get Rating) President Anutthara Bharadwaj sold 3,780 shares of Atlassian stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $146.51, for a total value of $553,807.80. Following the sale, the president now directly owns 209,699 shares of the company’s stock, valued at $30,723,000.49. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, May 15th, Anutthara Bharadwaj sold 4,699 shares of Atlassian stock. The stock was sold at an average price of $142.53, for a total value of $669,748.47.
• On Tuesday, February 21st, Anutthara Bharadwaj sold 2,622 shares of Atlassian stock. The stock was sold at an average price of $164.83, for a total value of $432,184.26.

Atlassian Trading Up 7.7 %

NASDAQ:TEAM opened at $158.38 on Tuesday. The stock has a market capitalization of $40.71 billion, a price-to-earnings ratio of -76.51 and a beta of 0.82. Atlassian Co. has a 1 year low of $113.86 and a 1 year high of $300.29. The stock has a fifty day moving average price of $153.01 and a two-hundred day moving average price of $149.20. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.31 and a current ratio of 1.31.

Atlassian (NASDAQ:TEAM – Get Rating) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). The company had revenue of $915.45 million during the quarter, compared to analysts’ expectations of $898.71 million. Atlassian had a negative net margin of 15.89% and a negative return on equity of 79.71%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TEAM shares. Canaccord Genuity Group boosted their price objective on shares of Atlassian from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Mizuho decreased their price objective on shares of Atlassian from $235.00 to $215.00 in a research note on Friday, May 5th. Piper Sandler cut their target price on Atlassian from $160.00 to $140.00 in a research report on Friday, May 5th. Barclays decreased their target price on Atlassian from $155.00 to $130.00 in a research report on Sunday, May 7th. Finally, The Goldman Sachs Group downgraded Atlassian from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $240.00 to $165.00 in a research note on Friday, May 5th. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $197.74.

Institutional Investors Weigh In On Atlassian

Several institutional investors have recently modified their holdings of the company. Guinness Atkinson Asset Management Inc acquired a new position in Atlassian during the fourth quarter worth $30,000. Meeder Asset Management Inc. raised its stake in shares of Atlassian by 151.5% during the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after buying an additional 147 shares during the last quarter. Carmel Capital Partners LLC purchased a new stake in shares of Atlassian in the 1st quarter worth about $34,000. Sonnipe Ltd acquired a new stake in Atlassian in the 4th quarter valued at about $36,000. Finally, CoreCap Advisors LLC purchased a new position in Atlassian during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 45.50% of the company’s stock.

About Atlassian

(Get Rating)

Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.