Atlassian (NASDAQ:TEAM) CRO Sells $1,241,571.00 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 7,617 shares of Atlassian stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the completion of the transaction, the executive owned 220,074 shares of the company’s stock, valued at $35,872,062. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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 transaction of $269,130.00.
• On Thursday, June 11th, Brian Duffy sold 1,432 shares of Atlassian stock. The stock was sold at an average price of $88.79, for a total value of $127,147.28.
• On Wednesday, June 10th, Brian Duffy sold 1,813 shares of Atlassian stock. The stock was sold at an average price of $92.79, for a total value of $168,228.27.
• On Tuesday, June 9th, Brian Duffy sold 1,454 shares of Atlassian stock. The stock was 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 Trading Up 6.9%

Shares of Atlassian stock opened at $174.23 on Thursday. The company’s 50-day moving average price is $102.46 and its 200-day moving average price is $88.51. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.93. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $184.00. The company has a market cap of $44.21 billion, a price-to-earnings ratio of -917.00, a PEG ratio of 12.81 and a beta of 1.05.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.50 by $0.37. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. Atlassian’s revenue for the quarter was up 27.6% on a year-over-year basis. On average, equities analysts expect that Atlassian Corporation PLC will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Large investors have recently modified their holdings of the company. MV Capital Management Inc. bought a new position in Atlassian during the fourth quarter valued at approximately $25,000. Manning & Napier Advisors LLC purchased a new position in shares of Atlassian during the second quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Atlassian by 139.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock worth $29,000 after acquiring an additional 220 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of Atlassian in the 1st quarter worth approximately $30,000. Finally, State of Wyoming boosted its stake in shares of Atlassian by 65.7% in the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after purchasing an additional 178 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on Atlassian from $120.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. FBN Securities reiterated an “outperform” rating and set a $170.00 price target on shares of Atlassian in a research report on Monday, August 10th. Citigroup boosted their price objective on Atlassian from $110.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Oppenheimer upped their price objective on shares of Atlassian from $110.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Finally, Piper Sandler lowered their target price on shares of Atlassian from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Twenty-four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $176.27.

About Atlassian

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.