Atlassian (NASDAQ:TEAM) CFO James Chuong Sells 8,838 Shares

Atlassian Corporation PLC (NASDAQ:TEAM) CFO James Chuong sold 8,838 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the sale, the chief financial officer owned 288,272 shares in the company, valued at approximately $25,295,868. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Atlassian Price Performance

Shares of TEAM opened at $82.18 on Friday. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $222.59. The firm’s fifty day simple moving average is $73.61 and its 200-day simple moving average is $110.86. The firm has a market capitalization of $20.85 billion, a price-to-earnings ratio of -99.01, a PEG ratio of 4.89 and a beta of 0.90. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share 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 business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company earned $0.97 EPS. The business’s quarterly revenue was up 31.7% on a year-over-year basis. Equities analysts forecast that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent analyst reports. Cantor Fitzgerald upped their target price on shares of Atlassian from $98.00 to $107.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Oppenheimer lifted their price objective on Atlassian from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Wells Fargo & Company reduced their price target on Atlassian from $155.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 17th. Truist Financial upped their target price on Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, UBS Group dropped their price target on Atlassian from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. One equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.63.

Institutional Investors Weigh In On Atlassian

Large investors have recently added to or reduced their stakes in the stock. Western Wealth Management LLC bought a new stake in shares of Atlassian in the first quarter valued at about $30,000. Ariadne Wealth Management LP bought a new position in Atlassian in the first quarter worth $202,000. Oddo BHF Asset Management Sas lifted its position in Atlassian by 171.3% in the first quarter. Oddo BHF Asset Management Sas now owns 289,808 shares of the technology company’s stock worth $19,779,000 after purchasing an additional 182,973 shares during the period. Bull Harbor Capital LLC bought a new position in Atlassian during the first quarter worth about $614,000. Finally, Quantinno Capital Management LP lifted its stake in Atlassian by 947.7% during the first quarter. Quantinno Capital Management LP now owns 283,427 shares of the technology company’s stock worth $19,344,000 after purchasing an additional 256,374 shares during the period. 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.