Anutthara Bharadwaj Sells 7,674 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) President Anutthara Bharadwaj sold 7,674 shares of Atlassian stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $225.51, for a total transaction of $1,730,563.74. Following the sale, the president now owns 192,260 shares in the company, valued at $43,356,552.60. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, February 19th, Anutthara Bharadwaj sold 1,723 shares of Atlassian stock. The stock was sold at an average price of $305.84, for a total transaction of $526,962.32.
• On Friday, February 14th, Anutthara Bharadwaj sold 1,520 shares of Atlassian stock. The shares were sold at an average price of $312.58, for a total transaction of $475,121.60.

Atlassian Stock Down 0.0%

TEAM stock opened at $220.79 on Friday. The company has a market cap of $57.96 billion, a P/E ratio of -164.77 and a beta of 1.06. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company’s 50-day moving average price is $213.63 and its 200 day moving average price is $247.20. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.89 earnings per share. On average, research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Atlassian by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company’s stock valued at $3,606,198,000 after purchasing an additional 580,583 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Atlassian by 7.1% in the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company’s stock valued at $1,845,114,000 after purchasing an additional 573,696 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Atlassian by 21.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company’s stock valued at $730,175,000 after purchasing an additional 616,071 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after purchasing an additional 1,777,179 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on TEAM shares. Baird R W upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Mizuho lifted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Oppenheimer lifted their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Wells Fargo & Company dropped their price objective on shares of Atlassian from $330.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Finally, StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $285.29.

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.