Atlassian (NASDAQ:TEAM) CRO Sells $127,147.28 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,432 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $88.79, for a total value of $127,147.28. Following the completion of the sale, the executive directly owned 230,691 shares in the company, valued at $20,483,053.89. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $89.71, for a total value of $269,130.00.
• 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 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 Stock Performance

NASDAQ TEAM traded down $0.68 during trading hours on Friday, hitting $88.52. The company had a trading volume of 4,881,911 shares, compared to its average volume of 6,949,981. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $222.59. The firm has a market cap of $22.46 billion, a P/E ratio of -106.65, a price-to-earnings-growth ratio of 5.19 and a beta of 1.07. The business has a fifty day simple moving average of $81.07 and a 200-day simple moving average of $104.69. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last released its quarterly 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 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 quarter in the prior year, the business posted $0.97 earnings per share. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. Equities analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Hedge Funds Weigh In On Atlassian

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TEAM shares. Raymond James Financial set a $130.00 target price on Atlassian in a research note on Friday, May 1st. 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 note on Friday, May 1st. BMO Capital Markets decreased their target price on Atlassian from $130.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. BTIG Research raised their target price on Atlassian from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, 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 note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.