Anutthara Bharadwaj Sells 760 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 760 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $160.00, for a total transaction of $121,600.00. Following the completion of the sale, the president now directly owns 153,294 shares of the company’s stock, valued at approximately $24,527,040. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, May 17th, Anutthara Bharadwaj sold 760 shares of Atlassian stock. The stock was sold at an average price of $181.58, for a total transaction of $138,000.80.
• 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 transaction 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 stock was sold at an average price of $193.63, for a total transaction of $147,158.80.

Atlassian Price Performance

Shares of TEAM opened at $167.45 on Wednesday. The company has a market capitalization of $43.59 billion, a price-to-earnings ratio of -265.79 and a beta of 0.73. Atlassian Co. has a fifty-two week low of $152.34 and a fifty-two week high of $258.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50-day moving average is $173.42 and its 200-day moving average is $202.10.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.40) EPS. Equities research analysts expect that Atlassian Co. will post -0.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently made changes to their positions in the business. Hollencrest Capital Management increased its holdings in 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 buying an additional 119 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Atlassian in the first quarter worth approximately $40,000. Crewe Advisors LLC acquired a new position in Atlassian in the first quarter worth approximately $43,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in 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 buying an additional 271 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Atlassian by 255.3% in 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. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of several research analyst reports. KeyCorp initiated coverage on shares of Atlassian in a report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Piper Sandler cut their price target on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Mizuho cut their price target on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 26th. Finally, Wells Fargo & Company cut their price target on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $221.28.

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.