Brian Duffy Sells 1,986 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,986 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $174,271.50. Following the completion of the transaction, the executive directly owned 236,841 shares of the company’s stock, valued at approximately $20,782,797.75. The trade was a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Brian Duffy also recently made the following trade(s):

• On Thursday, February 19th, Brian Duffy sold 1,222 shares of Atlassian stock. The stock was sold at an average price of $81.35, for a total value of $99,409.70.

Atlassian Stock Performance

TEAM opened at $82.18 on Friday. The company has a market capitalization of $20.85 billion, a price-to-earnings ratio of -99.01, a P/E/G ratio of 4.89 and a beta of 0.90. The business’s 50-day moving average price is $73.61 and its two-hundred day moving average price is $110.86. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $222.59. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70.

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

Analyst Ratings Changes

A number of research firms have recently issued reports on TEAM. Mizuho lowered their price objective on shares of Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. KeyCorp reduced their target price on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research report on Monday, April 20th. Truist Financial lifted their price target on shares of Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Finally, BMO Capital Markets cut their price target on shares of Atlassian from $130.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.63.

Institutional Trading of Atlassian

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

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.