Atlassian Co. (NASDAQ:TEAM) Short Interest Update

Atlassian Co. (NASDAQ:TEAM) saw a large decrease in short interest in April. As of April 15th, there was short interest totalling 4,400,000 shares, a decrease of 14.7% from the March 31st total of 5,160,000 shares. Based on an average daily volume of 1,750,000 shares, the short-interest ratio is currently 2.5 days.

Atlassian Stock Performance

Shares of TEAM stock opened at $179.45 on Monday. The company’s fifty day moving average price is $199.98 and its two-hundred day moving average price is $206.59. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $46.55 billion, a P/E ratio of -284.84 and a beta of 0.63. Atlassian has a 12 month low of $128.02 and a 12 month high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, research analysts anticipate that Atlassian will post -0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TEAM has been the topic of a number of recent analyst reports. Truist Financial cut their price target on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday. Canaccord Genuity Group lowered their price target on Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research report on Friday. KeyCorp started coverage on Atlassian in a report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Wells Fargo & Company boosted their target price on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Finally, Robert W. Baird cut their price target on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $223.22.

Insider Buying and Selling at Atlassian

In related news, CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $251.76, for a total transaction of $2,074,754.16. Following the transaction, the chief executive officer now owns 329,640 shares of the company’s stock, valued at $82,990,166.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Atlassian news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $200.00, for a total value of $152,000.00. Following the completion of the sale, the president now owns 161,850 shares in the company, valued at approximately $32,370,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Farquhar sold 8,241 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $251.76, for a total transaction of $2,074,754.16. Following the transaction, the chief executive officer now owns 329,640 shares in the company, valued at $82,990,166.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 292,209 shares of company stock worth $59,632,213. Corporate insiders own 40.48% of the company’s stock.

Institutional Trading of Atlassian

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Atlassian by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after purchasing an additional 504,181 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Atlassian by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after acquiring an additional 326,673 shares during the last quarter. WCM Investment Management LLC raised its position in shares of Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after acquiring an additional 249,017 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Atlassian by 20.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after purchasing an additional 1,511,318 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its holdings in Atlassian by 1.1% in the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock worth $1,218,765,000 after purchasing an additional 63,903 shares during the period. Institutional investors and hedge funds 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.