Brian Duffy Sells 1,451 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,451 shares of Atlassian stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $98.03, for a total transaction of $142,241.53. Following the completion of the sale, the executive owned 235,390 shares in the company, valued at approximately $23,075,281.70. This trade represents a 0.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 transaction of $138,638.90.
• On Tuesday, May 19th, Brian Duffy sold 1,986 shares of Atlassian stock. The stock was sold at an average price of $87.75, for a total transaction of $174,271.50.

Atlassian Stock Performance

TEAM opened at $91.54 on Thursday. The firm has a market capitalization of $23.23 billion, a PE ratio of -110.29, a PEG ratio of 5.42 and a beta of 1.07. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $222.59. The firm’s 50-day moving average price is $80.65 and its 200 day moving average price is $105.09. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.42. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. Atlassian’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 earnings per share. As a group, sell-side analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently made changes to their positions in the stock. MV Capital Management Inc. purchased a new stake in shares of Atlassian in the 4th quarter valued at approximately $25,000. Western Wealth Management LLC purchased a new stake in Atlassian during the 1st quarter worth approximately $30,000. State of Wyoming increased its stake in Atlassian by 65.7% during the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock worth $31,000 after buying an additional 178 shares during the period. Atlantic Union Bankshares Corp increased its stake in Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after buying an additional 199 shares during the period. Finally, Board of the Pension Protection Fund purchased a new stake in Atlassian during the 4th quarter worth approximately $32,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TEAM. TD Cowen boosted their price target 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. Barclays boosted their price target on shares of Atlassian from $106.00 to $112.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Canaccord Genuity Group lowered their price target on shares of Atlassian from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. BMO Capital Markets reduced their target price on shares of Atlassian from $130.00 to $105.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.63.

About Atlassian

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.