Insider Selling: Atlassian Co. (NASDAQ:TEAM) President Sells 2,470 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 2,470 shares of Atlassian stock in a transaction on Friday, November 17th. The shares were sold at an average price of $185.82, for a total transaction of $458,975.40. Following the completion of the sale, the president now owns 179,129 shares of the company’s stock, valued at approximately $33,285,750.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Tuesday, November 14th, Anutthara Bharadwaj sold 4,560 shares of Atlassian stock. The shares were sold at an average price of $184.97, for a total transaction of $843,463.20.
• On Friday, October 20th, Anutthara Bharadwaj sold 2,470 shares of Atlassian stock. The shares were sold at an average price of $191.19, for a total transaction of $472,239.30.
• On Friday, September 15th, Anutthara Bharadwaj sold 2,470 shares of Atlassian stock. The shares were sold at an average price of $208.44, for a total transaction of $514,846.80.

Atlassian Trading Up 0.6 %

Shares of NASDAQ:TEAM traded up $1.11 during trading on Monday, reaching $186.10. 1,351,303 shares of the company traded hands, compared to its average volume of 1,887,025. The firm has a market capitalization of $48.02 billion, a price-to-earnings ratio of -94.38 and a beta of 0.64. Atlassian Co. has a 52-week low of $113.86 and a 52-week high of $215.77. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.23. The business’s fifty day moving average is $190.77 and its 200-day moving average is $180.68.

Institutional Trading of Atlassian

A number of institutional investors have recently made changes to their positions in TEAM. SkyView Investment Advisors LLC lifted its stake in Atlassian by 5.1% in the third quarter. SkyView Investment Advisors LLC now owns 3,379 shares of the technology company’s stock worth $681,000 after acquiring an additional 163 shares during the period. Creative Planning lifted its stake in Atlassian by 12.3% in the third quarter. Creative Planning now owns 5,170 shares of the technology company’s stock worth $1,042,000 after acquiring an additional 566 shares during the period. Belpointe Asset Management LLC lifted its stake in Atlassian by 62.7% in the third quarter. Belpointe Asset Management LLC now owns 3,943 shares of the technology company’s stock worth $795,000 after acquiring an additional 1,520 shares during the period. Morgan Stanley lifted its stake in Atlassian by 156.8% in the third quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after acquiring an additional 1,095,297 shares during the period. Finally, Penserra Capital Management LLC lifted its stake in Atlassian by 1,162.9% in the third quarter. Penserra Capital Management LLC now owns 9,573 shares of the technology company’s stock worth $1,928,000 after acquiring an additional 8,815 shares during the period. Hedge funds and other institutional investors own 53.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Mizuho reaffirmed a “buy” rating and set a $240.00 price objective on shares of Atlassian in a report on Tuesday, September 19th. Robert W. Baird lifted their price objective on shares of Atlassian from $205.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Saturday, November 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $185.00 price objective on shares of Atlassian in a report on Friday, August 4th. Finally, Citigroup lifted their price objective on shares of Atlassian from $195.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, August 29th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $202.19.

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.