Atlassian (NASDAQ:TEAM) CRO Brian Duffy Sells 1,986 Shares

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,986 shares of Atlassian stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $174,271.50. Following the completion of the sale, the executive directly owned 236,841 shares in the company, valued at approximately $20,782,797.75. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, February 19th, Brian Duffy sold 1,222 shares of Atlassian stock. The stock was sold at an average price of $81.35, for a total transaction of $99,409.70.

Atlassian Stock Performance

Shares of TEAM stock opened at $86.23 on Thursday. The firm has a market cap of $21.88 billion, a price-to-earnings ratio of -103.89, a P/E/G ratio of 4.91 and a beta of 0.90. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $222.59. The firm’s 50-day simple moving average is $73.52 and its two-hundred day simple moving average is $111.47.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.33 by $0.42. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. As a group, equities analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the topic of several research reports. Jefferies Financial Group set a $150.00 price target on shares of Atlassian in a research report on Friday, February 6th. BTIG Research boosted their price target on shares of Atlassian from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Guggenheim set a $115.00 price target on shares of Atlassian in a research report on Thursday, April 9th. Wolfe Research reissued an “outperform” rating and issued a $100.00 price target on shares of Atlassian in a research report on Thursday, March 12th. Finally, Zacks Research raised shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. One equities research 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.63.

Hedge Funds Weigh In On Atlassian

Several hedge funds have recently bought and sold shares of the company. Western Wealth Management LLC purchased a new position in Atlassian during the first quarter valued at approximately $30,000. Ariadne Wealth Management LP purchased a new position in Atlassian during the first quarter valued at approximately $202,000. Oddo BHF Asset Management Sas grew its stake in Atlassian by 171.3% during the first quarter. Oddo BHF Asset Management Sas now owns 289,808 shares of the technology company’s stock valued at $19,779,000 after acquiring an additional 182,973 shares in the last quarter. Bull Harbor Capital LLC purchased a new position in Atlassian during the first quarter valued at approximately $614,000. Finally, Quantinno Capital Management LP grew 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 valued at $19,344,000 after acquiring an additional 256,374 shares in 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.