Atlassian (NASDAQ:TEAM) CAO Gene Liu Sells 939 Shares

Atlassian Corporation PLC (NASDAQ:TEAM) CAO Gene Liu sold 939 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $190.00, for a total transaction of $178,410.00. Following the completion of the sale, the chief accounting officer owned 55,868 shares in the company, valued at $10,614,920. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, August 19th, Gene Liu sold 1,125 shares of Atlassian stock. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00.
• On Friday, August 14th, Gene Liu sold 815 shares of Atlassian stock. The shares were sold at an average price of $163.00, for a total transaction of $132,845.00.
• On Thursday, August 13th, Gene Liu sold 737 shares of Atlassian stock. The shares were sold at an average price of $165.00, for a total transaction of $121,605.00.

Atlassian Stock Up 2.0%

Shares of TEAM stock traded up $3.76 during trading hours on Monday, reaching $194.17. 5,062,389 shares of the company’s stock were exchanged, compared to its average volume of 6,209,420. The stock’s 50 day moving average is $114.90 and its 200-day moving average is $92.05. The company has a market cap of $49.27 billion, a price-to-earnings ratio of -1,021.95, a P/E/G ratio of 14.96 and a beta of 1.05. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $197.30.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%.The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter last year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 27.6% on a year-over-year basis. Analysts predict that Atlassian Corporation PLC will post 0.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its holdings in Atlassian by 7,498.4% in the 2nd quarter. California State Teachers Retirement System now owns 17,767,858 shares of the technology company’s stock worth $1,382,162,000 after buying an additional 17,534,021 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Atlassian by 291.4% during the fourth quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock valued at $1,256,535,000 after acquiring an additional 5,769,788 shares during the last quarter. Norges Bank purchased a new position in shares of Atlassian in the fourth quarter valued at approximately $323,526,000. Morgan Stanley lifted its position in shares of Atlassian by 52.4% in the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock valued at $781,841,000 after acquiring an additional 1,657,309 shares in the last quarter. Finally, Carmignac Gestion boosted its stake in shares of Atlassian by 115.8% in the first quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company’s stock worth $177,707,000 after acquiring an additional 1,397,402 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on TEAM. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a research note on Friday, July 17th. Citizens Jmp reiterated a “market perform” rating on shares of Atlassian in a report on Wednesday, July 1st. Guggenheim lifted their price objective on shares of Atlassian from $115.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 7th. UBS Group raised their target price on shares of Atlassian from $95.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, KeyCorp increased their price target on Atlassian from $115.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Twenty-five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $179.93.

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.