Insider Selling: Atlassian (NASDAQ:TEAM) CAO Sells $121,605.00 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CAO Gene Liu sold 737 shares of Atlassian stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $165.00, for a total value of $121,605.00. Following the completion of the transaction, the chief accounting officer directly owned 58,747 shares of the company’s stock, valued at approximately $9,693,255. This represents a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 Tuesday, May 19th, Gene Liu sold 67 shares of Atlassian stock. The stock was sold at an average price of $87.71, for a total transaction of $5,876.57.

Atlassian Trading Up 6.9%

NASDAQ TEAM opened at $174.23 on Thursday. The firm has a 50 day simple moving average of $102.46 and a 200-day simple moving average of $88.51. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.70 and a current ratio of 0.78. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $184.00. The firm has a market cap of $44.21 billion, a price-to-earnings ratio of -917.00, a PEG ratio of 12.81 and a beta of 1.05.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The business’s quarterly revenue was up 27.6% compared to the same quarter last year. Equities research analysts anticipate that Atlassian Corporation PLC will post 0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently modified their holdings of TEAM. Snowden Capital Advisors LLC lifted its position in shares of Atlassian by 1.6% during the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after purchasing an additional 71 shares during the last quarter. Financial Perspectives Inc increased its holdings in Atlassian by 11.7% in the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock valued at $116,000 after buying an additional 75 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in Atlassian by 3.0% in the fourth quarter. Verdence Capital Advisors LLC now owns 3,079 shares of the technology company’s stock valued at $499,000 after buying an additional 89 shares during the last quarter. Bogart Wealth LLC raised its stake in Atlassian by 76.4% in the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after buying an additional 94 shares in the last quarter. Finally, New York Life Investment Management LLC raised its stake in Atlassian by 6.7% in the fourth quarter. New York Life Investment Management LLC now owns 2,199 shares of the technology company’s stock valued at $357,000 after buying an additional 139 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on TEAM shares. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Atlassian in a research report on Monday, June 29th. Raymond James Financial set a $180.00 target price on Atlassian in a report on Friday, August 7th. Truist Financial boosted their target price on Atlassian from $100.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Jefferies Financial Group restated a “buy” rating and set a $200.00 price target on shares of Atlassian in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research report on Friday, July 17th. Twenty-four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $176.27.

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.