Atlassian Co. (NASDAQ:TEAM – Get Rating)’s share price gapped down prior to trading on Friday following insider selling activity. The stock had previously closed at $182.41, but opened at $159.34. Atlassian shares last traded at $163.93, with a volume of 506,516 shares traded. Specifically, CEO Scott Farquhar sold 8,614 shares of Atlassian stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $165.11, for a total value of $1,422,257.54. Following the completion of the transaction, the chief executive officer now directly owns 353,174 shares of the company’s stock, valued at $58,312,559.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Rajeev Bashyam Rajan sold 3,128 shares of the business’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $115.01, for a total transaction of $359,751.28. Following the completion of the transaction, the chief technology officer now directly owns 114,575 shares in the company, valued at approximately $13,177,270.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Farquhar sold 8,614 shares of the business’s stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $165.11, for a total value of $1,422,257.54. Following the transaction, the chief executive officer now owns 353,174 shares of the company’s stock, valued at $58,312,559.14. The disclosure for this sale can be found here. Insiders sold 266,510 shares of company stock valued at $36,071,496 over the last ninety days. 43.11% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research firms have recently issued reports on TEAM. William Blair restated an “outperform” rating on shares of Atlassian in a research report on Friday, November 4th. StockNews.com lowered Atlassian from a “hold” rating to a “sell” rating in a research report on Wednesday. Wells Fargo & Company cut their target price on Atlassian from $250.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, January 6th. Mizuho cut their target price on Atlassian from $320.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, November 4th. Finally, Jefferies Financial Group boosted their target price on Atlassian from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, January 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.50.
Atlassian Stock Down 10.2 %
The company has a debt-to-equity ratio of 2.08, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $41.84 billion, a P/E ratio of -183.98 and a beta of 0.83. The stock has a 50-day moving average price of $140.10 and a 200-day moving average price of $187.32.
Atlassian (NASDAQ:TEAM – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.36 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $806.42 million. During the same period last year, the company earned ($0.01) earnings per share. The firm’s revenue was up 31.5% compared to the same quarter last year. On average, research analysts predict that Atlassian Co. will post -0.95 EPS for the current fiscal year.
Institutional Investors Weigh In On Atlassian
A number of hedge funds have recently added to or reduced their stakes in TEAM. Dimensional Fund Advisors LP grew its stake in Atlassian by 29.9% in the first quarter. Dimensional Fund Advisors LP now owns 201,552 shares of the technology company’s stock valued at $59,233,000 after acquiring an additional 46,418 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Atlassian by 6.0% in the first quarter. Cetera Investment Advisers now owns 1,755 shares of the technology company’s stock valued at $516,000 after purchasing an additional 100 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Atlassian by 7.9% in the first quarter. Baird Financial Group Inc. now owns 115,967 shares of the technology company’s stock valued at $34,075,000 after purchasing an additional 8,491 shares in the last quarter. Pearl River Capital LLC bought a new stake in Atlassian during the first quarter worth $1,163,000. Finally, USS Investment Management Ltd bought a new stake in Atlassian during the first quarter worth $6,015,000. Institutional investors and hedge funds own 45.50% of the company’s stock.
Atlassian Company Profile
Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.