Atlassian Co. (NASDAQ:TEAM) Sees Large Decrease in Short Interest

Atlassian Co. (NASDAQ:TEAM) was the recipient of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 3,570,000 shares, a decline of 14.8% from the January 31st total of 4,190,000 shares. Based on an average daily trading volume, of 1,940,000 shares, the short-interest ratio is presently 1.8 days.

Insider Activity

In related news, President Anutthara Bharadwaj sold 1,520 shares of Atlassian stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $259.85, for a total transaction of $394,972.00. Following the sale, the president now directly owns 210,471 shares in the company, valued at $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88. Following the sale, the chief executive officer now owns 270,232 shares in the company, valued at $87,098,475.92. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 264,553 shares of company stock valued at $72,913,406. Company insiders own 38.55% of the company’s stock.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in Atlassian in the third quarter worth about $606,000. Fulton Bank N.A. purchased a new stake in Atlassian in the fourth quarter worth about $447,000. Paloma Partners Management Co purchased a new stake in Atlassian in the third quarter worth about $1,588,000. Allworth Financial LP boosted its stake in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after acquiring an additional 47 shares during the period. Finally, Impax Asset Management Group plc boosted its stake in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after acquiring an additional 31,986 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 9.4 %

Atlassian stock opened at $250.66 on Friday. The stock has a market cap of $65.67 billion, a PE ratio of -187.06 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian has a one year low of $135.29 and a one year high of $326.00. The stock has a fifty day moving average of $276.34 and a 200 day moving average of $231.09.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, sell-side analysts predict that Atlassian will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 3rd. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Financial Group lifted their price target on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Citigroup boosted their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Raymond James reissued an “outperform” rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $319.71.

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.