Atlassian Co. (NASDAQ:TEAM) Short Interest Update

Atlassian Co. (NASDAQ:TEAM) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 3,090,000 shares, a drop of 13.4% from the February 13th total of 3,570,000 shares. Based on an average daily volume of 2,090,000 shares, the short-interest ratio is currently 1.5 days. Approximately 1.9% of the company’s stock are sold short.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 15,896 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the sale, the chief executive officer now owns 429,192 shares of the company’s stock, valued at $104,529,711.60. The trade was a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $218.05, for a total value of $1,733,061.40. Following the completion of the sale, the director now directly owns 119,220 shares of the company’s stock, valued at $25,995,921. This represents a 6.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 256,605 shares of company stock valued at $69,903,340. Insiders own 38.55% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Murphy & Mullick Capital Management Corp acquired a new position in shares of Atlassian in the 4th quarter worth approximately $27,000. Colonial Trust Co SC boosted its position in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after buying an additional 69 shares during the last quarter. True Wealth Design LLC boosted its position in Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the last quarter. Summit Securities Group LLC bought a new position in Atlassian in the 4th quarter valued at $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian in the 4th quarter valued at $39,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Down 0.7 %

Shares of TEAM opened at $219.45 on Wednesday. The company has a market capitalization of $57.50 billion, a P/E ratio of -163.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian has a one year low of $135.29 and a one year high of $326.00. The business’s 50 day simple moving average is $272.20 and its 200-day simple moving average is $235.46.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate 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 fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TEAM shares. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Scotiabank lifted their price objective on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Mizuho lifted their price objective on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Wells Fargo & Company lifted their price objective on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Canaccord Genuity Group lifted their price objective on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $319.71.

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.