Insider Selling: Atlassian Co. (NASDAQ:TEAM) CFO Sells 1,770 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CFO Joseph Leo Binz sold 1,770 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $214.87, for a total value of $380,319.90. Following the sale, the chief financial officer now directly owns 162,789 shares in the company, valued at $34,978,472.43. This trade represents a 1.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Joseph Leo Binz also recently made the following trade(s):

• On Wednesday, May 14th, Joseph Leo Binz sold 3,027 shares of Atlassian stock. The stock was sold at an average price of $225.51, for a total value of $682,618.77.

Atlassian Stock Performance

Shares of TEAM stock opened at $209.17 on Thursday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market cap of $54.91 billion, a PE ratio of -156.10 and a beta of 1.06. The business has a 50-day simple moving average of $213.33 and a 200-day simple moving average of $247.04.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Atlassian’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.89 earnings per share. On average, equities analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley reduced their target price on shares of Atlassian from $370.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Barclays lowered their target price on shares of Atlassian from $350.00 to $260.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. Stephens reduced their price target on Atlassian from $255.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group increased their price objective on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company dropped their target price on Atlassian from $330.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $285.29.

Institutional Trading of Atlassian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP increased its stake in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after purchasing an additional 47 shares in the last quarter. Slow Capital Inc. increased its position in shares of Atlassian by 2.9% in the fourth quarter. Slow Capital Inc. now owns 33,879 shares of the technology company’s stock valued at $8,245,000 after buying an additional 959 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Atlassian by 3,951.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company’s stock worth $36,432,000 after buying an additional 145,995 shares during the period. SYM FINANCIAL Corp acquired a new stake in Atlassian in the 4th quarter valued at $230,000. Finally, LPL Financial LLC increased its holdings in Atlassian by 93.4% in the 4th quarter. LPL Financial LLC now owns 51,534 shares of the technology company’s stock worth $12,542,000 after acquiring an additional 24,891 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.