Atlassian (NASDAQ:TEAM) CAO Gene Liu Sells 939 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CAO Gene Liu sold 939 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $190.00, for a total transaction of $178,410.00. Following the completion of the sale, the chief accounting officer directly owned 55,868 shares of the company’s stock, valued at approximately $10,614,920. The trade was a 1.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, August 19th, Gene Liu sold 1,125 shares of Atlassian stock. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00.
• On Friday, August 14th, Gene Liu sold 815 shares of Atlassian stock. The stock was sold at an average price of $163.00, for a total transaction of $132,845.00.
• On Thursday, August 13th, Gene Liu sold 737 shares of Atlassian stock. The shares were sold at an average price of $165.00, for a total transaction of $121,605.00.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $194.17 on Tuesday. The company’s 50 day moving average price is $117.19 and its two-hundred day moving average price is $92.76. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $197.30. The firm has a market cap of $49.27 billion, a PE ratio of -1,021.95, a PEG ratio of 14.96 and a beta of 1.05. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. Equities research analysts predict that Atlassian Corporation PLC will post 0.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Truist Financial upped their target price on Atlassian from $160.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. BMO Capital Markets increased their price objective on shares of Atlassian from $95.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Oppenheimer raised their target price on shares of Atlassian from $110.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Citizens Jmp restated a “market perform” rating on shares of Atlassian in a research report on Wednesday, July 1st. Finally, Guggenheim upped their price target on shares of Atlassian from $115.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Twenty-five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $179.93.

Institutional Trading of Atlassian

Several large investors have recently bought and sold shares of the business. MV Capital Management Inc. acquired a new position in Atlassian during the fourth quarter worth about $25,000. 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 in the last quarter. Basepoint Wealth LLC bought a new stake in shares of Atlassian during the 4th quarter valued at approximately $32,000. Garton & Associates Financial Advisors LLC acquired a new position in Atlassian during the 4th quarter worth approximately $32,000. Finally, VSM Wealth Advisory LLC acquired a new position in Atlassian during the 4th quarter worth approximately $41,000. 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.