Atlassian (NASDAQ:TEAM) CRO Sells $142,241.53 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,451 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $98.03, for a total transaction of $142,241.53. Following the sale, the executive owned 235,390 shares of the company’s stock, valued at approximately $23,075,281.70. This represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• 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 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 Trading Down 2.3%

TEAM stock traded down $2.28 during trading on Tuesday, reaching $95.61. The company had a trading volume of 3,420,937 shares, compared to its average volume of 6,998,851. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $222.59. The company has a market cap of $24.26 billion, a P/E ratio of -115.19, a PEG ratio of 5.64 and a beta of 1.07. The business has a 50 day moving average of $79.55 and a 200 day moving average of $105.82. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. As a group, sell-side analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Robert W. Baird set a $120.00 target price on shares of Atlassian in a report on Friday, May 1st. Sanford C. Bernstein restated an “outperform” rating and issued a $295.00 target price on shares of Atlassian in a report on Friday, May 1st. BMO Capital Markets dropped their target price on shares of Atlassian from $130.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. BNP Paribas Exane assumed coverage on shares of Atlassian in a report on Monday, March 16th. They issued an “outperform” rating and a $95.00 target price on the stock. Finally, Guggenheim set a $115.00 target price on shares of Atlassian in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.63.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. NewEdge Advisors LLC increased its holdings in Atlassian by 71.6% in the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock valued at $1,153,000 after acquiring an additional 2,267 shares during the last quarter. Empowered Funds LLC increased its holdings in Atlassian by 39.5% in the 1st quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock valued at $995,000 after acquiring an additional 1,328 shares during the last quarter. Focus Partners Wealth increased its holdings in Atlassian by 32.6% in the 1st quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock valued at $875,000 after acquiring an additional 1,014 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in 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 acquiring an additional 161 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its holdings in Atlassian by 27.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after acquiring an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.