Insider Selling: Atlassian (NASDAQ:TEAM) CRO Sells 1,851 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,851 shares of Atlassian stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $319,204.95. Following the completion of the transaction, the executive directly owned 218,223 shares in the company, valued at approximately $37,632,556.35. The trade was a 0.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 Friday, August 14th, Brian Duffy sold 7,617 shares of Atlassian stock. The stock was sold at an average price of $163.00, for a total value of $1,241,571.00.
• On Friday, June 12th, Brian Duffy sold 3,000 shares of Atlassian stock. The shares were sold at an average price of $89.71, for a total value of $269,130.00.
• On Thursday, June 11th, Brian Duffy sold 1,432 shares of Atlassian stock. The shares were sold at an average price of $88.79, for a total value of $127,147.28.
• On Wednesday, June 10th, Brian Duffy sold 1,813 shares of Atlassian stock. The stock was sold at an average price of $92.79, for a total value of $168,228.27.
• On Tuesday, June 9th, Brian Duffy sold 1,454 shares of Atlassian stock. The stock was sold at an average price of $95.35, for a total transaction of $138,638.90.
• On Monday, June 8th, Brian Duffy sold 1,451 shares of Atlassian stock. The shares were sold at an average price of $98.03, for a total transaction of $142,241.53.

Atlassian Stock Up 0.4%

Shares of TEAM stock traded up $0.68 during trading on Thursday, reaching $174.91. The company’s stock had a trading volume of 5,457,769 shares, compared to its average volume of 5,703,645. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $184.00. The business has a fifty day moving average price of $104.18 and a 200-day moving average price of $88.91. The company has a market cap of $44.39 billion, a price-to-earnings ratio of -920.58, a price-to-earnings-growth ratio of 13.69 and a beta of 1.05. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM) last released its 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. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. Analysts anticipate that Atlassian Corporation PLC will post 0.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $200.00 target price on shares of Atlassian in a research report on Friday, August 7th. Oppenheimer raised their price target on Atlassian from $110.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. UBS Group boosted their price target on Atlassian from $95.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Piper Sandler dropped their price objective on Atlassian from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Finally, Morgan Stanley raised their target price on shares of Atlassian from $120.00 to $180.00 and gave the company an “overweight” rating in a research note 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 issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.23.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. MV Capital Management Inc. bought a new stake in Atlassian during the fourth quarter worth about $25,000. Manning & Napier Advisors LLC bought a new position in Atlassian in the 2nd quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Atlassian by 139.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock valued at $29,000 after buying an additional 220 shares in the last quarter. Western Wealth Management LLC acquired a new position in shares of Atlassian in the 1st quarter valued at approximately $30,000. Finally, State of Wyoming lifted its holdings in shares of Atlassian by 65.7% during the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock worth $31,000 after acquiring an additional 178 shares during the period. Institutional investors own 94.45% of the company’s stock.

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.