Atlassian (NASDAQ:TEAM) CRO Sells $168,228.27 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,813 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $92.79, for a total value of $168,228.27. Following the completion of the sale, the executive owned 232,123 shares in the company, valued at approximately $21,538,693.17. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• 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 Tuesday, June 9th, Brian Duffy sold 1,454 shares of Atlassian stock. The shares were sold at an average price of $95.35, for a total value 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 value of $142,241.53.
• On Tuesday, May 19th, Brian Duffy sold 1,986 shares of Atlassian stock. The shares were sold at an average price of $87.75, for a total value of $174,271.50.

Atlassian Stock Down 0.8%

Shares of NASDAQ TEAM traded down $0.68 during mid-day trading on Friday, hitting $88.52. The company had a trading volume of 4,881,911 shares, compared to its average volume of 6,949,981. The company has a market capitalization of $22.46 billion, a PE ratio of -106.65, a price-to-earnings-growth ratio of 5.19 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $222.59. The business’s 50-day simple moving average is $81.07 and its 200 day simple moving average is $104.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.42. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the firm earned $0.97 earnings per share. On average, analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Several hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC lifted its holdings in shares of Atlassian by 291.4% in the 4th quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock valued at $1,256,535,000 after purchasing an additional 5,769,788 shares during the last quarter. DNB Asset Management AS lifted its holdings in shares of Atlassian by 266.6% in the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock valued at $448,260,000 after purchasing an additional 2,041,210 shares during the last quarter. Norges Bank purchased a new stake in shares of Atlassian in the 4th quarter valued at about $323,526,000. Morgan Stanley lifted its holdings in shares of Atlassian by 52.4% in the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock valued at $781,841,000 after purchasing an additional 1,657,309 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Atlassian by 1,691.2% in the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock valued at $98,281,000 after purchasing an additional 1,359,624 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on TEAM shares. Piper Sandler cut their price target on Atlassian from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Wells Fargo & Company cut their price target on Atlassian from $155.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Canaccord Genuity Group cut their price target on Atlassian from $185.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, April 15th. Morgan Stanley cut their price target on Atlassian from $290.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, April 16th. Finally, Mizuho dropped their price target on shares of Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.63.

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.