Atlassian Co. (NASDAQ:TEAM) Sees Large Decrease in Short Interest

Atlassian Co. (NASDAQ:TEAM) was the recipient of a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 3,570,000 shares, a decrease of 14.8% from the January 31st total of 4,190,000 shares. Based on an average trading volume of 1,940,000 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of research reports. Scotiabank increased their price target on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Oppenheimer increased their price target on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, UBS Group raised their price objective on Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Insider Transactions at Atlassian

In related news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the transaction, the president now directly owns 211,991 shares of the company’s stock, valued at approximately $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cannon-Brookes sold 15,896 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80. Following the transaction, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,553 shares of company stock valued at $72,913,406 over the last 90 days. Company insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Atlassian in the 4th quarter valued at $27,000. Colonial Trust Co SC increased its holdings in shares of Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after acquiring an additional 69 shares during the period. Summit Securities Group LLC purchased a new position in shares of Atlassian in the 4th quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian in the 4th quarter valued at $39,000. Finally, Avion Wealth increased its holdings in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after acquiring an additional 157 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Trading Down 9.4 %

TEAM opened at $250.66 on Friday. The stock’s fifty day moving average is $276.34 and its two-hundred day moving average is $231.09. The company has a market capitalization of $65.67 billion, a P/E ratio of -187.06 and a beta of 0.87. Atlassian has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Analysts forecast that Atlassian will post -0.34 earnings per share for the current year.

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.