Insider Selling: Atlassian Co. (NASDAQ:TEAM) CAO Sells 779 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CAO Gene Liu sold 779 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $320.01, for a total value of $249,287.79. Following the transaction, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. The trade was a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, November 19th, Gene Liu sold 165 shares of Atlassian stock. The shares were sold at an average price of $245.84, for a total value of $40,563.60.
• On Monday, November 11th, Gene Liu sold 785 shares of Atlassian stock. The stock was sold at an average price of $240.00, for a total transaction of $188,400.00.
• On Thursday, November 7th, Gene Liu sold 445 shares of Atlassian stock. The shares were sold at an average price of $230.00, for a total transaction of $102,350.00.

Atlassian Stock Up 1.5 %

Shares of NASDAQ TEAM traded up $4.62 during midday trading on Monday, hitting $311.40. The stock had a trading volume of 3,122,795 shares, compared to its average volume of 2,232,776. The business’s 50 day moving average is $260.51 and its 200-day moving average is $208.44. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $324.37. The company has a market cap of $81.10 billion, a P/E ratio of -232.39 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 18.00%. As a group, analysts predict that Atlassian Co. will post -0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TEAM shares. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday. Jefferies Financial Group boosted their target price on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Macquarie assumed coverage on shares of Atlassian in a research report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price objective on the stock. Finally, Raymond James reaffirmed an “outperform” rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $318.43.

Institutional Trading of Atlassian

A number of institutional investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans bought a new position in Atlassian during the second quarter valued at approximately $677,000. Sanctuary Advisors LLC purchased a new stake in Atlassian during the 2nd quarter valued at $1,022,000. Handelsbanken Fonder AB lifted its holdings in shares of Atlassian by 2.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 69,552 shares of the technology company’s stock valued at $11,046,000 after buying an additional 1,760 shares during the period. GAMMA Investing LLC boosted its stake in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV increased its position in Atlassian by 100.5% during the third quarter. Azzad Asset Management Inc. ADV now owns 3,451 shares of the technology company’s stock valued at $548,000 after acquiring an additional 1,730 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.