Atlassian (NASDAQ:TEAM) CRO Sells $174,271.50 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,986 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $174,271.50. Following the completion of the transaction, the executive directly owned 236,841 shares of the company’s stock, valued at $20,782,797.75. This represents a 0.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, February 19th, Brian Duffy sold 1,222 shares of Atlassian stock. The shares were sold at an average price of $81.35, for a total transaction of $99,409.70.

Atlassian Stock Down 0.5%

TEAM traded down $0.39 on Wednesday, reaching $86.23. 3,898,446 shares of the company traded hands, compared to its average volume of 7,143,038. The stock’s 50 day moving average price is $73.44 and its 200-day moving average price is $112.00. The company has a market cap of $21.88 billion, a price-to-earnings ratio of -103.89, a PEG ratio of 5.07 and a beta of 0.90. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59. 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 (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the company posted $0.97 EPS. Atlassian’s revenue was up 31.7% on a year-over-year basis. On average, sell-side analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Institutional Trading of Atlassian

Large investors have recently modified their holdings of the company. MV Capital Management Inc. bought a new stake in shares of Atlassian during the 4th quarter worth $25,000. Physician Wealth Advisors Inc. boosted its holdings in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares during the period. Western Wealth Management LLC bought a new stake in Atlassian in the 1st quarter valued at $30,000. State of Wyoming boosted its holdings in Atlassian by 65.7% in the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after purchasing an additional 178 shares during the period. Finally, Atlantic Union Bankshares Corp boosted its holdings in Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares during the period. 94.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company dropped their price objective on Atlassian from $155.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. Wall Street Zen raised shares of Atlassian from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. TD Cowen boosted their target price on shares of Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. Robert W. Baird set a $120.00 target price on shares of Atlassian in a research report on Friday, May 1st. Finally, KeyCorp decreased their target price on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.