Atlassian Co. Plc (NASDAQ:TEAM) CTO Sells $359,751.28 in Stock

Atlassian Co. Plc (NASDAQ:TEAMGet Rating) CTO Rajeev Bashyam Rajan sold 3,128 shares of the company’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $115.01, for a total value of $359,751.28. Following the completion of the transaction, the chief technology officer now owns 114,575 shares of the company’s stock, valued at approximately $13,177,270.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

  • On Wednesday, November 23rd, Rajeev Bashyam Rajan sold 442 shares of Atlassian stock. The stock was sold at an average price of $117.07, for a total value of $51,744.94.

Atlassian Price Performance

Shares of TEAM stock opened at $124.50 on Friday. Atlassian Co. Plc has a fifty-two week low of $113.86 and a fifty-two week high of $404.68. The business’s 50 day moving average price is $185.23 and its 200-day moving average price is $203.39. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 2.08.

Atlassian (NASDAQ:TEAMGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The technology company reported $0.36 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.46. Atlassian had a negative return on equity of 71.10% and a negative net margin of 7.60%. The company had revenue of $807.39 million for the quarter, compared to analyst estimates of $806.42 million. During the same period in the previous year, the company posted ($0.01) earnings per share. The firm’s revenue was up 31.5% on a year-over-year basis. On average, sell-side analysts forecast that Atlassian Co. Plc will post -0.9 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Core Alternative Capital raised its stake in shares of Atlassian by 1,383.3% in the first quarter. Core Alternative Capital now owns 89 shares of the technology company’s stock worth $26,000 after purchasing an additional 83 shares during the last quarter. IndexIQ Advisors LLC bought a new stake in shares of Atlassian in the first quarter worth $30,000. San Luis Wealth Advisors LLC bought a new stake in shares of Atlassian in the first quarter worth $40,000. Ronald Blue Trust Inc. bought a new stake in shares of Atlassian in the second quarter worth $36,000. Finally, Rosenberg Matthew Hamilton bought a new stake in shares of Atlassian in the third quarter worth $26,000. Hedge funds and other institutional investors own 87.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on Atlassian from $325.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, November 4th. Sanford C. Bernstein set a $263.00 price objective on Atlassian in a report on Friday, August 12th. BMO Capital Markets dropped their price objective on Atlassian from $295.00 to $160.00 and set a “market perform” rating on the stock in a report on Friday, November 4th. William Blair reissued an “outperform” rating on shares of Atlassian in a report on Friday, November 4th. Finally, Mizuho dropped their price objective on Atlassian from $320.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, November 4th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $249.00.

Atlassian Company Profile

(Get Rating)

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.

Further Reading

Insider Buying and Selling by Quarter for Atlassian (NASDAQ:TEAM)

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