Atlassian Co. (NASDAQ:TEAM) CTO Rajeev Bashyam Rajan Sells 199 Shares

Atlassian Co. (NASDAQ:TEAM - Get Free Report) CTO Rajeev Bashyam Rajan sold 199 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the completion of the sale, the chief technology officer now directly owns 128,957 shares of the company's stock, valued at approximately $18,838,038.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Thursday, May 23rd, Rajeev Bashyam Rajan sold 445 shares of Atlassian stock. The stock was sold at an average price of $175.90, for a total transaction of $78,275.50.

Atlassian Stock Up 3.1 %

Shares of TEAM traded up $4.79 during mid-day trading on Monday, hitting $159.00. 2,052,112 shares of the company's stock were exchanged, compared to its average volume of 1,802,178. The company has a market cap of $41.39 billion, a price-to-earnings ratio of -252.38 and a beta of 0.74. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The stock's 50-day moving average is $165.79 and its 200-day moving average is $183.74.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 18.13%. The business's quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) earnings per share. On average, sell-side analysts anticipate that Atlassian Co. will post -0.57 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Several hedge funds have recently added to or reduced their stakes in TEAM. International Assets Investment Management LLC acquired a new stake in Atlassian during the fourth quarter worth approximately $13,805,000. Cerity Partners LLC raised its holdings in Atlassian by 31.1% during the fourth quarter. Cerity Partners LLC now owns 3,965 shares of the technology company's stock worth $943,000 after purchasing an additional 941 shares in the last quarter. Xponance Inc. raised its holdings in Atlassian by 2.2% during the fourth quarter. Xponance Inc. now owns 21,049 shares of the technology company's stock worth $5,007,000 after purchasing an additional 463 shares in the last quarter. Greenleaf Trust raised its holdings in Atlassian by 3.5% during the fourth quarter. Greenleaf Trust now owns 3,433 shares of the technology company's stock worth $817,000 after purchasing an additional 115 shares in the last quarter. Finally, abrdn plc raised its holdings in Atlassian by 120.4% during the fourth quarter. abrdn plc now owns 56,086 shares of the technology company's stock worth $13,341,000 after purchasing an additional 30,636 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Canaccord Genuity Group lowered their target price on shares of Atlassian from $260.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, April 26th. Scotiabank dropped their price objective on shares of Atlassian from $210.00 to $175.00 and set a "sector perform" rating for the company in a report on Friday, August 2nd. TD Cowen dropped their price objective on shares of Atlassian from $220.00 to $210.00 and set a "hold" rating for the company in a report on Friday, April 26th. Piper Sandler raised shares of Atlassian from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $200.00 to $225.00 in a report on Tuesday, July 2nd. Finally, Barclays dropped their price objective on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a report on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus target price of $217.69.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.