Atlassian (NASDAQ:TEAM) CRO Brian Duffy Sells 1,813 Shares

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,813 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $92.79, for a total value of $168,228.27. Following the transaction, the executive owned 232,123 shares of the company’s stock, valued at $21,538,693.17. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, June 12th, Brian Duffy sold 3,000 shares of Atlassian stock. The shares were sold at an average price of $89.71, for a total value of $269,130.00.
• On Thursday, June 11th, Brian Duffy sold 1,432 shares of Atlassian stock. The shares were sold at an average price of $88.79, for a total value of $127,147.28.
• 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 value of $138,638.90.
• On Monday, June 8th, Brian Duffy sold 1,451 shares of Atlassian stock. The shares were sold at an average price of $98.03, for a total value of $142,241.53.
• 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 value of $174,271.50.

Atlassian Stock Performance

Shares of Atlassian stock opened at $88.52 on Friday. The business has a 50-day moving average of $81.45 and a 200 day moving average of $104.57. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59. The stock has a market capitalization of $22.46 billion, a price-to-earnings ratio of -106.65, a price-to-earnings-growth ratio of 5.06 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the business posted $0.97 EPS. Atlassian’s revenue for the quarter was up 31.7% on a year-over-year basis. As a group, sell-side analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently made changes to their positions in TEAM. AQR Capital Management LLC raised its position in shares of Atlassian by 291.4% during the 4th quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock worth $1,256,535,000 after acquiring an additional 5,769,788 shares in the last quarter. DNB Asset Management AS raised its position in shares of Atlassian by 266.6% during the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after acquiring an additional 2,041,210 shares in the last quarter. Norges Bank acquired a new stake in shares of Atlassian during the 4th quarter worth about $323,526,000. Morgan Stanley raised its position in shares of Atlassian by 52.4% during the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after acquiring an additional 1,657,309 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Atlassian by 1,691.2% during the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after acquiring an additional 1,359,624 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TEAM. Zacks Research upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 6th. BTIG Research lifted their price objective on Atlassian from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Barclays lifted their price objective on Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. BNP Paribas Exane began coverage on Atlassian in a research note on Monday, March 16th. They issued an “outperform” rating and a $95.00 price objective for the company. Finally, Truist Financial lifted their price objective on Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.63.

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.