Atlassian (NASDAQ:TEAM) CRO Sells $269,130.00 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 3,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $89.71, for a total transaction of $269,130.00. Following the completion of the sale, the executive owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This represents a 1.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 transaction of $127,147.28.
• On Wednesday, June 10th, Brian Duffy sold 1,813 shares of Atlassian stock. The shares were sold at an average price of $92.79, for a total transaction 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 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 on Friday, reaching $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 current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $22.46 billion, a PE ratio of -106.65, a PEG ratio of 5.19 and a beta of 1.07. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59. The firm’s 50 day simple moving average is $81.07 and its 200-day simple moving average is $104.69.

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Raymond James Financial set a $130.00 price objective on shares of Atlassian in a research note on Friday, May 1st. UBS Group lowered their target price on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Oppenheimer raised their target price on shares of Atlassian from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Citigroup decreased their price objective on Atlassian from $160.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, Zacks Research upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $145.63.

Institutional Trading of Atlassian

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Western Wealth Management LLC purchased a new stake in shares of Atlassian during the 1st quarter valued at $30,000. Ariadne Wealth Management LP purchased a new stake in shares of Atlassian during the 1st quarter valued at $202,000. Oddo BHF Asset Management Sas raised its stake in Atlassian by 171.3% in the 1st quarter. Oddo BHF Asset Management Sas now owns 289,808 shares of the technology company’s stock worth $19,779,000 after acquiring an additional 182,973 shares during the last quarter. Bull Harbor Capital LLC purchased a new position in Atlassian in the 1st quarter worth $614,000. Finally, Quantinno Capital Management LP raised its stake in Atlassian by 947.7% in the 1st quarter. Quantinno Capital Management LP now owns 283,427 shares of the technology company’s stock worth $19,344,000 after acquiring an additional 256,374 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.