Insider Selling: Atlassian (NASDAQ:TEAM) CAO Sells $70,770.00 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CAO Gene Liu sold 337 shares of Atlassian stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $210.00, for a total value of $70,770.00. Following the completion of the transaction, the chief accounting officer directly owned 55,531 shares of the company’s stock, valued at approximately $11,661,510. This represents a 0.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, August 28th, Gene Liu sold 939 shares of Atlassian stock. The shares were sold at an average price of $190.00, for a total transaction of $178,410.00.
• On Wednesday, August 19th, Gene Liu sold 1,125 shares of Atlassian stock. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00.
• On Friday, August 14th, Gene Liu sold 815 shares of Atlassian stock. The stock was sold at an average price of $163.00, for a total transaction of $132,845.00.
• On Thursday, August 13th, Gene Liu sold 737 shares of Atlassian stock. The shares were sold at an average price of $165.00, for a total transaction of $121,605.00.

Atlassian Trading Up 0.1%

NASDAQ TEAM traded up $0.29 during trading hours on Tuesday, hitting $208.04. 2,608,178 shares of the company were exchanged, compared to its average volume of 5,713,775. The stock has a market cap of $52.79 billion, a PE ratio of -1,094.95, a price-to-earnings-growth ratio of 16.25 and a beta of 1.22. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $214.77. The stock has a 50-day moving average price of $177.70 and a 200 day moving average price of $116.47. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM) last released its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The business’s revenue was up 27.6% compared to the same quarter last year. Analysts forecast that Atlassian Corporation PLC will post 0.94 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

A number of hedge funds have recently bought and sold shares of TEAM. MV Capital Management Inc. purchased a new stake in Atlassian in the 4th quarter valued at $25,000. State of Wyoming boosted its holdings in Atlassian by 65.7% in the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after purchasing an additional 178 shares during the last quarter. CX Institutional grew its position in Atlassian by 18.0% in the third quarter. CX Institutional now owns 1,248 shares of the technology company’s stock worth $224,000 after acquiring an additional 190 shares during the period. MassMutual Private Wealth & Trust FSB grew its position in Atlassian by 139.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock worth $29,000 after acquiring an additional 220 shares during the period. Finally, GAMMA Investing LLC increased its stake in Atlassian by 19.0% during the third quarter. GAMMA Investing LLC now owns 1,448 shares of the technology company’s stock worth $260,000 after acquiring an additional 231 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TEAM shares. Citigroup upped their price objective on shares of Atlassian from $170.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 1st. Zacks Research cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. TD Cowen boosted their target price on shares of Atlassian from $105.00 to $145.00 and gave the stock a “hold” rating in a research report on Friday, August 7th. UBS Group raised their price target on shares of Atlassian from $95.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, Morgan Stanley lifted their price objective on shares of Atlassian from $120.00 to $180.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Twenty-five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.15.

About Atlassian

Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.

Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.