Atlassian (NASDAQ:TEAM) CRO Sells $142,241.53 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,451 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $98.03, for a total transaction of $142,241.53. Following the sale, the executive owned 235,390 shares of the company’s stock, valued at $23,075,281.70. This trade represents a 0.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Brian Duffy also recently made the following trade(s):

• On Tuesday, June 9th, Brian Duffy sold 1,454 shares of Atlassian stock. The shares were sold at an average price of $95.35, for a total transaction of $138,638.90.
• On Tuesday, May 19th, Brian Duffy sold 1,986 shares of Atlassian stock. The shares were sold at an average price of $87.75, for a total transaction of $174,271.50.

Atlassian Stock Performance

Shares of TEAM stock opened at $89.20 on Friday. The firm has a market capitalization of $22.64 billion, a PE ratio of -107.47, a price-to-earnings-growth ratio of 5.19 and a beta of 1.07. The firm has a fifty day simple moving average of $81.07 and a two-hundred day simple moving average of $104.69. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the business posted $0.97 EPS. The business’s revenue was up 31.7% compared to the same quarter last year. Analysts forecast that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TEAM shares. Truist Financial upped their target price on shares of Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, May 1st. Cantor Fitzgerald upped their target price on shares of Atlassian from $98.00 to $107.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. KeyCorp reduced their target price on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. BMO Capital Markets reduced their target price on shares of Atlassian from $130.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, Wolfe Research reiterated an “outperform” rating and issued a $100.00 target price on shares of Atlassian in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $145.63.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MV Capital Management Inc. purchased a new position in shares of Atlassian in the 4th quarter worth about $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares during the last quarter. Atlantic Union Bankshares Corp boosted its holdings in shares of Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after buying an additional 199 shares during the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Atlassian in the 4th quarter worth about $32,000. Finally, Basepoint Wealth LLC purchased a new position in shares of Atlassian in the 4th quarter worth about $32,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.