Atlassian Co. (NASDAQ:TEAM) CTO Rajeev Bashyam Rajan Sells 3,065 Shares

Atlassian Co. (NASDAQ:TEAM – Get Rating) CTO Rajeev Bashyam Rajan sold 3,065 shares of Atlassian stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $146.11, for a total value of $447,827.15. Following the completion of the sale, the chief technology officer now owns 108,338 shares of the company’s stock, valued at $15,829,265.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Rajeev Bashyam Rajan also recently made the following trade(s):

• On Tuesday, February 21st, Rajeev Bashyam Rajan sold 2,195 shares of Atlassian stock. The stock was sold at an average price of $164.83, for a total value of $361,801.85.

Atlassian Stock Up 7.7 %

Shares of Atlassian stock opened at $158.38 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.67. The company’s fifty day simple moving average is $153.01 and its two-hundred day simple moving average is $149.20. The company has a market cap of $40.71 billion, a P/E ratio of -76.51 and a beta of 0.82. Atlassian Co. has a 12-month low of $113.86 and a 12-month high of $300.29.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TEAM shares. Piper Sandler decreased their price objective on Atlassian from $160.00 to $140.00 in a report on Friday, May 5th. Robert W. Baird cut their price objective on Atlassian from $190.00 to $175.00 in a research report on Friday, May 5th. StockNews.com started coverage on Atlassian in a report on Thursday, May 18th. They issued a “hold” rating for the company. Barclays reduced their target price on shares of Atlassian from $155.00 to $130.00 in a research note on Sunday, May 7th. Finally, Morgan Stanley cut their price objective on shares of Atlassian from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $197.74.

Hedge Funds Weigh In On Atlassian

A number of hedge funds have recently bought and sold shares of TEAM. Guinness Atkinson Asset Management Inc bought a new position in Atlassian in the 4th quarter worth about $30,000. Meeder Asset Management Inc. lifted its stake in Atlassian by 151.5% during the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after acquiring an additional 147 shares during the period. Carmel Capital Partners LLC purchased a new stake in shares of Atlassian during the 1st quarter valued at about $34,000. Sonnipe Ltd purchased a new stake in shares of Atlassian during the 4th quarter valued at about $36,000. Finally, CoreCap Advisors LLC purchased a new stake in shares of Atlassian during the 4th quarter valued at about $39,000. Institutional investors own 45.50% of the company’s stock.

About Atlassian

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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.