Atlassian (NASDAQ:TEAM) CRO Sells $269,130.00 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the sale, the executive owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 transaction 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 transaction 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 transaction of $138,638.90.
• On Monday, June 8th, Brian Duffy sold 1,451 shares of Atlassian stock. The stock was sold at an average price of $98.03, for a total transaction of $142,241.53.
• On Tuesday, May 19th, Brian Duffy sold 1,986 shares of Atlassian stock. The stock was sold at an average price of $87.75, for a total transaction of $174,271.50.

Atlassian Price Performance

TEAM opened at $88.52 on Monday. The company’s 50 day simple moving average is $81.45 and its 200 day simple moving average is $104.28. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $222.59. The stock has a market capitalization of $22.46 billion, a PE ratio of -106.65, a P/E/G ratio of 5.02 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last released 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 business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 31.7% on a year-over-year basis. As a group, sell-side analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. OFI Invest Asset Management increased its stake in shares of Atlassian by 16.3% in the fourth quarter. OFI Invest Asset Management now owns 254,551 shares of the technology company’s stock worth $41,273,000 after buying an additional 35,682 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Atlassian by 3.9% in the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock worth $1,367,132,000 after buying an additional 316,276 shares during the last quarter. Exane Asset Management increased its stake in Atlassian by 419.9% during the fourth quarter. Exane Asset Management now owns 31,363 shares of the technology company’s stock valued at $5,085,000 after purchasing an additional 25,330 shares during the last quarter. Nicholas Company Inc. increased its stake in Atlassian by 8.7% during the fourth quarter. Nicholas Company Inc. now owns 306,819 shares of the technology company’s stock valued at $49,748,000 after purchasing an additional 24,490 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in Atlassian by 180.3% during the third quarter. Intech Investment Management LLC now owns 140,984 shares of the technology company’s stock valued at $22,515,000 after purchasing an additional 90,692 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TEAM. KeyCorp decreased their target price on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 1st. Wolfe Research reissued an “outperform” rating and issued a $100.00 target price on shares of Atlassian in a research report on Thursday, March 12th. Truist Financial raised their target price on shares of Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $295.00 price target on shares of Atlassian in a research report on Friday, May 1st. Finally, BNP Paribas Exane began coverage on shares of Atlassian in a research report on Monday, March 16th. They set an “outperform” rating and a $95.00 price target on the stock. 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 company’s stock. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average target price 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.