Atlassian Co. (NASDAQ:TEAM) Director Heather Mirjahangir Fernandez Sells 3,000 Shares

Atlassian Co. (NASDAQ:TEAM) Director Heather Mirjahangir Fernandez sold 3,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $275.00, for a total value of $825,000.00. Following the completion of the transaction, the director now owns 5,610 shares of the company’s stock, valued at $1,542,750. This represents a 34.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, November 1st, Heather Mirjahangir Fernandez sold 1,500 shares of Atlassian stock. The shares were sold at an average price of $225.45, for a total value of $338,175.00.
• 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 Trading Down 3.7 %

Shares of TEAM stock opened at $276.72 on Friday. The stock has a fifty day simple moving average of $215.54 and a two-hundred day simple moving average of $182.41. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The firm has a market capitalization of $72.07 billion, a PE ratio of -182.05 and a beta of 0.80. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company earned ($0.07) EPS. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. On average, analysts predict that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several research reports. Mizuho boosted their price objective on shares of Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Raymond James boosted their target price on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group increased their price target on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their price objective on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Scotiabank increased their price objective on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $249.74.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently modified their holdings of the stock. Dragoneer Investment Group LLC bought a new position in shares of Atlassian during the second quarter worth $469,803,000. Point72 Asset Management L.P. lifted its stake in Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after purchasing an additional 617,566 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after purchasing an additional 551,500 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Atlassian in the second quarter worth about $91,072,000. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Atlassian in the third quarter worth about $57,149,000. Institutional investors own 93.03% of the company’s stock.

About Atlassian

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.