Atlassian (NASDAQ:TEAM) CRO Sells $127,147.28 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,432 shares of Atlassian stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $88.79, for a total value of $127,147.28. Following the transaction, the executive owned 230,691 shares in the company, valued at $20,483,053.89. This represents a 0.62% decrease in their position. The sale 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 Friday, June 12th, Brian Duffy sold 3,000 shares of Atlassian stock. The stock was sold at an average price of $89.71, for a total value of $269,130.00.
• On Wednesday, June 10th, Brian Duffy sold 1,813 shares of Atlassian stock. The stock was sold at an average price of $92.79, for a total value of $168,228.27.
• 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 value of $138,638.90.
• On Monday, June 8th, Brian Duffy sold 1,451 shares of Atlassian stock. The stock was 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 Stock Down 0.8%

Atlassian stock traded down $0.68 during trading hours on Friday, hitting $88.52. The company had a trading volume of 4,881,911 shares, compared to its average volume of 6,949,981. The firm has a market capitalization of $22.46 billion, a P/E ratio of -106.65, a price-to-earnings-growth ratio of 5.19 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s fifty day moving average is $81.07 and its 200-day moving average is $104.69. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $222.59.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate 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%. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 EPS. On average, research analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. OFI Invest Asset Management grew its holdings in shares of Atlassian by 16.3% during the 4th quarter. OFI Invest Asset Management now owns 254,551 shares of the technology company’s stock worth $41,273,000 after purchasing an additional 35,682 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Atlassian by 3.9% during the 4th quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock worth $1,367,132,000 after purchasing an additional 316,276 shares in the last quarter. Exane Asset Management grew its holdings in shares of Atlassian by 419.9% during the 4th quarter. Exane Asset Management now owns 31,363 shares of the technology company’s stock worth $5,085,000 after purchasing an additional 25,330 shares in the last quarter. Nicholas Company Inc. grew its holdings in shares of Atlassian by 8.7% during the 4th quarter. Nicholas Company Inc. now owns 306,819 shares of the technology company’s stock worth $49,748,000 after purchasing an additional 24,490 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Atlassian by 180.3% during the 3rd quarter. Intech Investment Management LLC now owns 140,984 shares of the technology company’s stock worth $22,515,000 after purchasing an additional 90,692 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. BMO Capital Markets dropped their price objective 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. Raymond James Financial set a $130.00 price target on Atlassian in a research note on Friday, May 1st. Guggenheim set a $115.00 price target on Atlassian in a research note on Thursday, April 9th. Wall Street Zen downgraded Atlassian from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, Morgan Stanley cut their price target on Atlassian from $290.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. One 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price 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.