Atlassian (NASDAQ:TEAM) Director Sells $86,064.00 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Shona Brown sold 528 shares of Atlassian stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $163.00, for a total transaction of $86,064.00. Following the completion of the transaction, the director directly owned 36,508 shares in the company, valued at $5,950,804. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Atlassian Price Performance

TEAM stock traded down $2.87 during trading on Monday, reaching $159.17. 2,680,729 shares of the company were exchanged, compared to its average volume of 2,495,243. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian Corporation PLC has a twelve month low of $139.70 and a twelve month high of $326.00. The company has a market capitalization of $41.88 billion, a price-to-earnings ratio of -224.18, a P/E/G ratio of 30.56 and a beta of 0.89. The company has a 50-day moving average of $155.86 and a two-hundred day moving average of $175.26.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS. As a group, equities analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Capco Asset Management LLC purchased a new stake in Atlassian in the second quarter worth about $25,000. Physician Wealth Advisors Inc. raised its position in shares of 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 last quarter. Atlantic Union Bankshares Corp lifted its stake in shares of Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after buying an additional 199 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Atlassian by 447.2% during 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 during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Atlassian in the 3rd quarter worth about $57,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TEAM. The Goldman Sachs Group restated a “buy” rating and set a $260.00 price target on shares of Atlassian in a research note on Friday, October 31st. UBS Group reduced their price objective on Atlassian from $215.00 to $185.00 and set a “neutral” rating for the company in a research note on Friday, October 24th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a report on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $240.00 price objective on shares of Atlassian in a report on Friday, October 31st. Finally, Sanford C. Bernstein lifted their price target on Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $240.00.

About Atlassian

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.