Brian Duffy Sells 1,454 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,454 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $95.35, for a total value of $138,638.90. Following the completion of the transaction, the executive owned 233,936 shares in the company, valued at $22,305,797.60. This represents a 0.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• 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 value 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 value of $174,271.50.

Atlassian Trading Down 4.3%

NASDAQ:TEAM opened at $91.54 on Thursday. The stock’s 50 day moving average price is $80.65 and its 200 day moving average price is $105.09. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $222.59. The company has a market capitalization of $23.23 billion, a P/E ratio of -110.29, a P/E/G ratio of 5.42 and a beta of 1.07. 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 (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, topping 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 firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The firm’s revenue was up 31.7% on a year-over-year basis. On average, research analysts forecast that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently modified their holdings of the business. MV Capital Management Inc. bought a new stake in shares of Atlassian in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. boosted its position in shares of Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after acquiring an additional 161 shares during the period. Atlantic Union Bankshares Corp boosted its position in shares of Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after acquiring an additional 199 shares during the period. Board of the Pension Protection Fund bought a new stake in shares of Atlassian in the fourth quarter valued at approximately $32,000. Finally, Basepoint Wealth LLC bought a new stake in shares of Atlassian in the fourth quarter valued at approximately $32,000. 94.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on TEAM. Wall Street Zen cut Atlassian from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 30th. Cantor Fitzgerald upped their target price on Atlassian from $98.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Zacks Research raised Atlassian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Piper Sandler decreased their target price on Atlassian from $200.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Finally, UBS Group decreased their target price on Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. One investment 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 issued a Sell rating to the company. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $145.63.

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.