Insider Selling: Atlassian (NASDAQ:TEAM) CRO Sells $168,228.27 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,813 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $92.79, for a total transaction of $168,228.27. Following the completion of the transaction, the executive directly owned 232,123 shares of the company’s stock, valued at approximately $21,538,693.17. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, June 12th, Brian Duffy sold 3,000 shares of Atlassian stock. The shares were sold at an average price of $89.71, for a total transaction of $269,130.00.
• On Thursday, June 11th, Brian Duffy sold 1,432 shares of Atlassian stock. The stock was sold at an average price of $88.79, for a total transaction of $127,147.28.
• On Tuesday, June 9th, Brian Duffy sold 1,454 shares of Atlassian stock. The stock was sold at an average price of $95.35, for a total transaction of $138,638.90.
• On Monday, June 8th, Brian Duffy sold 1,451 shares of Atlassian stock. The stock was 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 shares were sold at an average price of $87.75, for a total transaction of $174,271.50.

Atlassian Stock Performance

Shares of TEAM stock opened at $88.52 on Monday. The stock has a market cap of $22.46 billion, a P/E ratio of -106.65, a P/E/G ratio of 5.02 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The company has a fifty day moving average price of $81.45 and a two-hundred day moving average price of $104.28. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $222.59.

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

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. OFI Invest Asset Management boosted its position in Atlassian by 16.3% during the 4th quarter. OFI Invest Asset Management now owns 254,551 shares of the technology company’s stock worth $41,273,000 after buying an additional 35,682 shares during the period. Baillie Gifford & Co. boosted its position in Atlassian by 3.9% during the 4th quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock worth $1,367,132,000 after buying an additional 316,276 shares during the period. Exane Asset Management boosted its position in Atlassian by 419.9% during the 4th quarter. Exane Asset Management now owns 31,363 shares of the technology company’s stock worth $5,085,000 after buying an additional 25,330 shares during the period. Nicholas Company Inc. boosted its position in Atlassian by 8.7% during the 4th quarter. Nicholas Company Inc. now owns 306,819 shares of the technology company’s stock worth $49,748,000 after buying an additional 24,490 shares during the period. Finally, Intech Investment Management LLC boosted its position in Atlassian by 180.3% during the 3rd quarter. Intech Investment Management LLC now owns 140,984 shares of the technology company’s stock worth $22,515,000 after buying an additional 90,692 shares during the period. 94.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TEAM. Robert W. Baird set a $120.00 target price on shares of Atlassian in a report on Friday, May 1st. Citigroup decreased their target price on shares of Atlassian from $160.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $295.00 price target on shares of Atlassian in a report on Friday, May 1st. Barclays lifted their price target on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Zacks Research raised shares of Atlassian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. One investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.