Atlassian Co. (NASDAQ:TEAM) Director Sells $338,175.00 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Heather Mirjahangir Fernandez sold 1,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $225.45, for a total transaction of $338,175.00. Following the completion of the sale, the director now owns 8,610 shares in the company, valued at $1,941,124.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Heather Mirjahangir Fernandez also recently made the following trade(s):

• On Friday, October 11th, Heather Mirjahangir Fernandez sold 750 shares of Atlassian stock. The shares were sold at an average price of $185.50, for a total transaction of $139,125.00.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $221.58 on Wednesday. The firm’s 50 day simple moving average is $175.52 and its 200 day simple moving average is $171.52. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The company has a market capitalization of $57.62 billion, a price-to-earnings ratio of -145.78 and a beta of 0.71. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.38%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) earnings per share. As a group, sell-side analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TEAM shares. Piper Sandler lifted their target price on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Scotiabank boosted their price objective on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Mizuho raised their target price on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial upped their price target on shares of Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Raymond James raised their price objective on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.16.

Institutional Investors Weigh In On Atlassian

Several large investors have recently modified their holdings of TEAM. ICICI Prudential Asset Management Co Ltd grew its position in shares of Atlassian by 19.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 2,089 shares of the technology company’s stock valued at $332,000 after purchasing an additional 340 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Atlassian by 24.4% in the third quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company’s stock valued at $281,000 after buying an additional 347 shares during the period. Aigen Investment Management LP bought a new stake in shares of Atlassian during the third quarter worth $2,232,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Atlassian by 1.8% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 366,254 shares of the technology company’s stock worth $58,165,000 after acquiring an additional 6,470 shares during the period. Finally, Baillie Gifford & Co. lifted its position in Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after acquiring an additional 78,454 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors.

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.