Gene Liu Sells 779 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CAO Gene Liu sold 779 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total transaction of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. This trade represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Gene Liu also recently made the following trade(s):

• On Tuesday, November 19th, Gene Liu sold 165 shares of Atlassian stock. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60.
• On Monday, November 11th, Gene Liu sold 785 shares of Atlassian stock. The shares were sold at an average price of $240.00, for a total transaction of $188,400.00.
• On Thursday, November 7th, Gene Liu sold 445 shares of Atlassian stock. The stock was sold at an average price of $230.00, for a total transaction of $102,350.00.

Atlassian Price Performance

Atlassian stock opened at $316.73 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm’s 50-day simple moving average is $262.61 and its 200 day simple moving average is $210.38. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $324.37. The firm has a market capitalization of $82.49 billion, a PE ratio of -236.36 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 18.00%. On average, equities research analysts predict that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in Atlassian during the 3rd quarter worth about $606,000. Sequoia Financial Advisors LLC boosted its stake in shares of Atlassian by 37.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after purchasing an additional 520 shares during the last quarter. Fulton Bank N.A. purchased a new stake in shares of Atlassian during the fourth quarter worth about $447,000. Paloma Partners Management Co acquired a new position in shares of Atlassian in the third quarter valued at approximately $1,588,000. Finally, Impax Asset Management Group plc lifted its stake in shares of Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after buying an additional 31,986 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on TEAM shares. Wells Fargo & Company upped their price objective on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Barclays increased their price target on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday. Macquarie initiated coverage on shares of Atlassian in a research note on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective on the stock. Piper Sandler raised their target price on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $255.00 to $292.00 in a report on Friday, January 10th. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $318.43.

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.