Gene Liu Sells 939 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CAO Gene Liu sold 939 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $190.00, for a total transaction of $178,410.00. Following the transaction, the chief accounting officer directly owned 55,868 shares in the company, valued at $10,614,920. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $175.00, for a total value 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 value of $132,845.00.
• On Thursday, August 13th, Gene Liu sold 737 shares of Atlassian stock. The stock was sold at an average price of $165.00, for a total value of $121,605.00.

Atlassian Stock Down 3.7%

Shares of NASDAQ:TEAM opened at $187.03 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $197.30. The business’s 50 day simple moving average is $119.30 and its two-hundred day simple moving average is $93.47. The firm has a market cap of $47.46 billion, a P/E ratio of -984.37, a PEG ratio of 15.26 and a beta of 1.15.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $1.66 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 27.6% on a year-over-year basis. As a group, research analysts forecast that Atlassian Corporation PLC will post 0.94 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank Of Canada initiated coverage on shares of Atlassian in a report on Tuesday, August 25th. They set an “outperform” rating and a $215.00 price objective on the stock. Guggenheim lifted their price objective on shares of Atlassian from $115.00 to $165.00 and gave the company a “buy” rating in a report on Friday, August 7th. Sanford C. Bernstein reissued an “outperform” rating on shares of Atlassian in a research report on Monday, June 29th. Jefferies Financial Group restated a “buy” rating and issued a $200.00 target price on shares of Atlassian in a report on Friday, August 7th. Finally, Oppenheimer raised their price target on shares of Atlassian from $110.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Twenty-five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.96.

Hedge Funds Weigh In On Atlassian

Hedge funds have recently bought and sold shares of the company. Snowden Capital Advisors LLC raised its holdings in shares of Atlassian by 1.6% in the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after purchasing an additional 71 shares during the last quarter. New York Life Investment Management LLC boosted its holdings in Atlassian by 6.7% during the fourth quarter. New York Life Investment Management LLC now owns 2,199 shares of the technology company’s stock worth $357,000 after purchasing an additional 139 shares during the last quarter. ICICI Prudential Asset Management Co Ltd grew its position in Atlassian by 5.6% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 2,696 shares of the technology company’s stock worth $437,000 after purchasing an additional 143 shares in the last quarter. Lido Advisors LLC grew its position in Atlassian by 5.1% in the 4th quarter. Lido Advisors LLC now owns 3,070 shares of the technology company’s stock worth $492,000 after purchasing an additional 149 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in Atlassian by 10.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,588 shares of the technology company’s stock valued at $257,000 after buying an additional 153 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other 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.