Brian Duffy Sells 1,813 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,813 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $92.79, for a total value of $168,228.27. Following the transaction, the executive directly owned 232,123 shares of the company’s stock, valued at approximately $21,538,693.17. The trade was a 0.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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 transaction of $127,147.28.
• On Tuesday, June 9th, Brian Duffy sold 1,454 shares of Atlassian stock. The shares were 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 shares were 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 shares were sold at an average price of $87.75, for a total transaction of $174,271.50.

Atlassian Stock Performance

NASDAQ TEAM opened at $88.52 on Friday. The firm’s fifty day moving average price is $81.45 and its two-hundred day moving average price is $104.57. The stock has a market cap of $22.46 billion, a PE ratio of -106.65, a PEG ratio of 5.02 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 Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $222.59.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.42. The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.Atlassian’s revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. On average, equities analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its position in Atlassian by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 2,267 shares during the period. Empowered Funds LLC lifted its position in shares of Atlassian by 39.5% in the 1st quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock worth $995,000 after purchasing an additional 1,328 shares during the period. Focus Partners Wealth lifted its position in shares of Atlassian by 32.6% in the 1st quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock worth $875,000 after purchasing an additional 1,014 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its position in shares of Atlassian by 27.5% during the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock worth $380,000 after buying an additional 404 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TEAM. Mizuho cut their price target on Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $295.00 price objective on shares of Atlassian in a report on Friday, May 1st. Canaccord Genuity Group cut their target price on shares of Atlassian from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. BMO Capital Markets cut their target price on shares of Atlassian from $130.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Finally, UBS Group reduced their target price on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, May 1st. One investment 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 issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus 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.