Atlassian (NASDAQ:TEAM) CRO Brian Duffy Sells 1,454 Shares

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,454 shares of Atlassian stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $95.35, for a total transaction of $138,638.90. Following the sale, the executive owned 233,936 shares in the company, valued at approximately $22,305,797.60. This represents a 0.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 stock was sold at an average price of $87.75, for a total transaction of $174,271.50.

Atlassian Price Performance

Atlassian stock traded down $2.28 during midday trading on Tuesday, hitting $95.61. The company’s stock had a trading volume of 3,420,937 shares, compared to its average volume of 6,998,851. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The stock’s 50-day moving average price is $79.55 and its 200-day moving average price is $105.82. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59. The company has a market capitalization of $24.26 billion, a PE ratio of -115.19, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07.

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

Institutional Investors Weigh In On Atlassian

Several institutional investors have recently made changes to their positions in the company. Western Wealth Management LLC acquired a new stake in shares of Atlassian during the 1st quarter valued at about $30,000. Ariadne Wealth Management LP acquired a new stake in shares of Atlassian during the 1st quarter valued at about $202,000. Oddo BHF Asset Management Sas lifted its holdings in shares of Atlassian by 171.3% during the 1st quarter. Oddo BHF Asset Management Sas now owns 289,808 shares of the technology company’s stock valued at $19,779,000 after buying an additional 182,973 shares during the last quarter. Bull Harbor Capital LLC acquired a new stake in shares of Atlassian during the 1st quarter valued at about $614,000. Finally, Quantinno Capital Management LP lifted its holdings in shares of Atlassian by 947.7% during the 1st quarter. Quantinno Capital Management LP now owns 283,427 shares of the technology company’s stock valued at $19,344,000 after buying an additional 256,374 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Mizuho lowered their target price on Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Wells Fargo & Company lowered their target price on Atlassian from $155.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Truist Financial lifted their target price on Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 1st. KeyCorp reduced their price target on Atlassian from $170.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Finally, BTIG Research lifted their price target on Atlassian from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.