Shona Brown Sells 528 Shares of Atlassian (NASDAQ:TEAM) Stock

by · The Cerbat Gem

Atlassian Corporation PLC (NASDAQ:TEAM – Get Free Report) Director Shona Brown sold 528 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $163.00, for a total value of $86,064.00. Following the sale, the director owned 36,508 shares in the company, valued at approximately $5,950,804. This represents a 1.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Atlassian Trading Up 0.2%

NASDAQ TEAM opened at $159.56 on Wednesday. Atlassian Corporation PLC has a 12 month low of $139.70 and a 12 month high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average of $156.23 and a 200-day moving average of $174.62. The company has a market cap of $41.98 billion, a PE ratio of -224.73, a PEG ratio of 30.02 and a beta of 0.89.

Atlassian (NASDAQ:TEAM – Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.21. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share. On average, equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Townsquare Capital LLC boosted its position in shares of Atlassian by 41.1% in the first quarter. Townsquare Capital LLC now owns 2,896 shares of the technology company’s stock valued at $615,000 after acquiring an additional 844 shares during the period. Vestmark Advisory Solutions Inc. raised its stake in Atlassian by 72.6% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 4,910 shares of the technology company’s stock worth $1,042,000 after purchasing an additional 2,065 shares in the last quarter. Aberdeen Group plc boosted its holdings in Atlassian by 122.4% in the 1st quarter. Aberdeen Group plc now owns 101,741 shares of the technology company’s stock valued at $21,590,000 after purchasing an additional 55,993 shares during the period. Ethic Inc. grew its position in shares of Atlassian by 13.6% during the 1st quarter. Ethic Inc. now owns 7,054 shares of the technology company’s stock worth $1,527,000 after purchasing an additional 845 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Atlassian by 35.2% during the first quarter. American Century Companies Inc. now owns 242,794 shares of the technology company’s stock worth $51,523,000 after purchasing an additional 63,221 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Guggenheim started coverage on Atlassian in a report on Thursday, September 11th. They set a “buy” rating and a $225.00 price target for the company. Wells Fargo & Company began coverage on Atlassian in a research note on Tuesday, September 30th. They set an “overweight” rating and a $216.00 target price for the company. TD Cowen decreased their target price on Atlassian from $220.00 to $205.00 and set a “hold” rating on the stock in a report on Monday, October 27th. Robert W. Baird set a $230.00 price target on Atlassian in a report on Friday, October 31st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $230.00 price objective on shares of Atlassian in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $239.23.

Read Our Latest Stock Report on Atlassian

About Atlassian

(Get Free Report)

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.

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