Insider Selling: Atlassian (NASDAQ:TEAM) CRO Sells 1,986 Shares of Stock

by · The Cerbat Gem

Atlassian Corporation PLC (NASDAQ:TEAM – Get Free Report) CRO Brian Duffy sold 1,986 shares of Atlassian stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total transaction of $174,271.50. Following the completion of the sale, the executive owned 236,841 shares in the company, valued at approximately $20,782,797.75. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $81.35, for a total transaction of $99,409.70.

Atlassian Stock Performance

NASDAQ:TEAM traded down $0.39 during mid-day trading on Wednesday, hitting $86.23. The stock had a trading volume of 3,898,446 shares, compared to its average volume of 7,143,038. The stock has a market capitalization of $21.88 billion, a price-to-earnings ratio of -103.89, a P/E/G ratio of 5.07 and a beta of 0.90. The company has a 50 day simple moving average of $73.44 and a 200-day simple moving average of $112.00. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $222.59. 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 – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.42. The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. Atlassian’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period last year, the firm posted $0.97 EPS. On average, research analysts expect that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MV Capital Management Inc. purchased a new position in shares of Atlassian in the fourth quarter worth approximately $25,000. Physician Wealth Advisors Inc. boosted its stake in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after purchasing an additional 61 shares during the period. Geneos Wealth Management Inc. boosted its stake in Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the period. Atlantic Union Bankshares Corp boosted its stake in Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after purchasing an additional 199 shares during the period. Finally, Board of the Pension Protection Fund acquired a new position in Atlassian in the 4th quarter worth approximately $32,000. 94.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Piper Sandler lowered their target price on shares of Atlassian from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. TD Cowen raised their target price on shares of Atlassian from $85.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Barclays raised their target price on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. UBS Group lowered their price objective on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Finally, BMO Capital Markets dropped their target price on shares of Atlassian from $130.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $145.63.

Read Our Latest Research Report on TEAM

Atlassian Company Profile

(Get Free Report)

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.

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