Atlassian (NASDAQ:TEAM) CAO Sells $132,845.00 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CAO Gene Liu sold 815 shares of Atlassian stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $163.00, for a total transaction of $132,845.00. Following the transaction, the chief accounting officer directly owned 57,932 shares in the company, valued at $9,442,916. This represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gene Liu also recently made the following trade(s):

• On Thursday, August 13th, Gene Liu sold 737 shares of Atlassian stock. The stock was sold at an average price of $165.00, for a total transaction of $121,605.00.
• On Tuesday, May 19th, Gene Liu sold 67 shares of Atlassian stock. The shares were sold at an average price of $87.71, for a total transaction of $5,876.57.

Atlassian Stock Up 6.9%

TEAM opened at $174.23 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.70 and a current ratio of 0.78. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $184.00. The firm’s fifty day moving average is $102.46 and its 200 day moving average is $88.51. The stock has a market cap of $44.21 billion, a price-to-earnings ratio of -917.00, a price-to-earnings-growth ratio of 12.81 and a beta of 1.05.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.66 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%.Atlassian’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. On average, sell-side analysts forecast that Atlassian Corporation PLC will post 0.94 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Several institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in Atlassian by 291.4% in the fourth quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock worth $1,256,535,000 after purchasing an additional 5,769,788 shares in the last quarter. Norges Bank bought a new stake in Atlassian during the 4th quarter valued at $323,526,000. Morgan Stanley raised its position in Atlassian by 52.4% during 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 in the last quarter. Carmignac Gestion lifted its holdings in shares of Atlassian by 115.8% in the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock worth $177,707,000 after buying an additional 1,397,402 shares during the period. Finally, KBC Group NV lifted its holdings 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 worth $98,281,000 after buying an additional 1,359,624 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on TEAM shares. Bank of America raised Atlassian from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Friday, August 7th. Wells Fargo & Company upped their price target on Atlassian from $140.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $126.00 price objective on shares of Atlassian in a report on Monday, August 3rd. Robert W. Baird set a $200.00 price objective on shares of Atlassian in a research report on Friday, August 7th. Finally, Citizens Jmp reissued a “market perform” rating on shares of Atlassian in a report on Wednesday, July 1st. Twenty-four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.27.

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.