Insider Selling: Atlassian Co. (NASDAQ:TEAM) CAO Sells 199 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CAO Gene Liu sold 199 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $184.25, for a total transaction of $36,665.75. Following the sale, the chief accounting officer now directly owns 45,666 shares in the company, valued at $8,413,960.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, March 11th, Gene Liu sold 582 shares of Atlassian stock. The stock was sold at an average price of $215.00, for a total value of $125,130.00.
• On Tuesday, February 20th, Gene Liu sold 287 shares of Atlassian stock. The stock was sold at an average price of $204.39, for a total value of $58,659.93.

Atlassian Stock Down 1.4 %

Shares of TEAM opened at $179.72 on Friday. The company’s 50-day simple moving average is $193.19 and its 200-day simple moving average is $205.64. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 1 year low of $143.88 and a 1 year high of $258.69. The stock has a market capitalization of $46.78 billion, a PE ratio of -285.27 and a beta of 0.67.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the company posted ($0.40) EPS. The firm’s revenue was up 29.9% compared to the same quarter last year. Analysts forecast that Atlassian Co. will post -0.29 earnings per share for the current fiscal year.

Hedge Funds 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 purchased a new stake in shares of Atlassian during the third quarter worth approximately $26,000. Hollencrest Capital Management raised its holdings in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after purchasing an additional 119 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian in the 1st quarter valued at $40,000. Crewe Advisors LLC acquired a new position in shares of Atlassian during the first quarter worth $43,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after buying an additional 271 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TEAM shares. Robert W. Baird decreased their target price on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Citigroup lowered their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. KeyCorp began coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Finally, StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $223.22.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.