Gene Liu Sells 737 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CAO Gene Liu sold 737 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $165.00, for a total value of $121,605.00. Following the sale, the chief accounting officer owned 58,747 shares in the company, valued at $9,693,255. The trade was a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 Friday, August 14th, Gene Liu sold 815 shares of Atlassian stock. The shares were sold at an average price of $163.00, for a total value of $132,845.00.
• On Tuesday, May 19th, Gene Liu sold 67 shares of Atlassian stock. The stock was sold at an average price of $87.71, for a total value of $5,876.57.

Atlassian Stock Performance

TEAM traded down $3.88 during trading on Monday, reaching $158.34. 3,047,567 shares of the company were exchanged, compared to its average volume of 5,459,537. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $184.00. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. The firm has a 50 day moving average of $99.46 and a 200 day moving average of $87.93. The stock has a market cap of $40.18 billion, a P/E ratio of -833.37, a PEG ratio of 18.33 and a beta of 1.05.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a positive return on equity of 20.07% and a negative net margin of 0.82%.The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period last year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. On average, sell-side analysts forecast that Atlassian Corporation PLC will post 0.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TEAM shares. BMO Capital Markets boosted their target price on shares of Atlassian from $95.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Wells Fargo & Company raised their price target on shares of Atlassian from $140.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Truist Financial lifted their price target on Atlassian from $100.00 to $160.00 and gave the company a “buy” rating in a report on Friday, August 7th. Raymond James Financial set a $180.00 price objective on Atlassian in a research report on Friday, August 7th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $200.00 target price on shares of Atlassian in a research report on Friday, August 7th. Twenty-four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $176.27.

Institutional Trading of Atlassian

Institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in shares of Atlassian by 71.6% in the first 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 in the last quarter. Empowered Funds LLC raised its holdings in Atlassian by 39.5% during the first 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 in the last quarter. Focus Partners Wealth lifted its position in Atlassian by 32.6% in the first 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 Atlassian by 447.2% during 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 in the last quarter. Finally, Sivia Capital Partners LLC increased its position in shares of Atlassian by 27.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after purchasing an additional 404 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

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.