Insider Selling: Atlassian (NASDAQ:TEAM) CRO Sells $138,638.90 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,454 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $95.35, for a total transaction of $138,638.90. Following the completion of the transaction, the executive directly owned 233,936 shares of the company’s stock, valued at approximately $22,305,797.60. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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 transaction 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 transaction of $174,271.50.

Atlassian Trading Down 2.6%

TEAM stock opened at $89.20 on Friday. The firm has a fifty day moving average price of $81.07 and a 200 day moving average price of $104.69. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $222.59. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $22.64 billion, a PE ratio of -107.47, a price-to-earnings-growth ratio of 5.19 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last posted its earnings results 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 firm had revenue of $1.79 billion during 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 revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the firm posted $0.97 earnings per share. Sell-side analysts anticipate that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on TEAM. Mizuho dropped their price objective on shares of Atlassian from $185.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, April 14th. BTIG Research lifted their price objective on shares of Atlassian from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research note on Monday, April 20th. Raymond James Financial set a $130.00 price objective on shares of Atlassian in a research note on Friday, May 1st. Finally, Piper Sandler dropped their price objective on shares of Atlassian from $200.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, May 1st. One 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $145.63.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently made changes to their positions in the company. MV Capital Management Inc. bought a new stake in shares of Atlassian in the fourth quarter valued at about $25,000. Western Wealth Management LLC bought a new stake in shares of Atlassian in the first quarter valued at about $30,000. State of Wyoming raised its holdings in shares of Atlassian by 65.7% in the first quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after acquiring an additional 178 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after acquiring an additional 199 shares in the last quarter. Finally, Board of the Pension Protection Fund bought a new stake in shares of Atlassian in the fourth quarter valued at about $32,000. 94.45% of the stock is currently owned by institutional investors.

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.