Atlassian Co. Plc (NASDAQ:TEAM) CTO Rajeev Bashyam Rajan Sells 442 Shares

Atlassian Co. Plc (NASDAQ:TEAMGet Rating) CTO Rajeev Bashyam Rajan sold 442 shares of the company’s stock in a transaction that occurred on Wednesday, November 23rd. The stock was sold at an average price of $117.07, for a total value of $51,744.94. Following the completion of the transaction, the chief technology officer now owns 114,133 shares of the company’s stock, valued at approximately $13,361,550.31. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

  • On Monday, November 21st, Rajeev Bashyam Rajan sold 3,128 shares of Atlassian stock. The stock was sold at an average price of $115.01, for a total transaction of $359,751.28.

Atlassian Trading Up 7.0 %

TEAM stock traded up $8.16 during midday trading on Thursday, reaching $124.50. 2,835,876 shares of the company were exchanged, compared to its average volume of 3,643,527. The business has a 50-day moving average price of $187.80 and a two-hundred day moving average price of $203.94. 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 Co. Plc has a one year low of $113.86 and a one year high of $404.68.

Atlassian (NASDAQ:TEAMGet Rating) last announced its earnings results on Thursday, November 3rd. The technology company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company earned ($0.01) earnings per share. The firm’s quarterly revenue was up 31.5% compared to the same quarter last year. Research analysts anticipate that Atlassian Co. Plc will post -0.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TEAM. Price T Rowe Associates Inc. MD grew its stake in shares of Atlassian by 8.6% in the second quarter. Price T Rowe Associates Inc. MD now owns 22,693,727 shares of the technology company’s stock worth $4,252,805,000 after purchasing an additional 1,803,544 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Atlassian by 41.6% during the 3rd quarter. Jennison Associates LLC now owns 7,134,346 shares of the technology company’s stock valued at $1,502,422,000 after acquiring an additional 2,095,358 shares during the period. Sands Capital Management LLC grew its holdings in Atlassian by 6.5% in the second quarter. Sands Capital Management LLC now owns 6,504,421 shares of the technology company’s stock worth $1,218,928,000 after purchasing an additional 397,595 shares during the period. WCM Investment Management LLC grew its stake in Atlassian by 75.2% in the third quarter. WCM Investment Management LLC now owns 5,879,895 shares of the technology company’s stock valued at $1,248,478,000 after acquiring an additional 2,523,053 shares during the period. Finally, Artisan Partners Limited Partnership increased its position in shares of Atlassian by 9.5% during the third quarter. Artisan Partners Limited Partnership now owns 5,695,486 shares of the technology company’s stock worth $1,199,412,000 after acquiring an additional 496,121 shares in the last quarter. Institutional investors own 87.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TEAM shares. Morgan Stanley lowered their target price on Atlassian from $375.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, November 11th. Citigroup cut their target price on shares of Atlassian from $375.00 to $210.00 and set a “buy” rating for the company in a research note on Monday, November 7th. Macquarie lowered Atlassian from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $287.00 to $147.00 in a research note on Friday, November 4th. Mizuho cut their price objective on Atlassian from $320.00 to $255.00 and set a “buy” rating for the company in a report on Friday, November 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of Atlassian in a report on Friday, November 4th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $249.00.

About Atlassian

(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.

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