Atlassian (NASDAQ:TEAM) CRO Brian Duffy Sells 1,451 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,451 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $98.03, for a total value of $142,241.53. Following the completion of the sale, the executive directly owned 235,390 shares of the company’s stock, valued at $23,075,281.70. The trade was a 0.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value of $138,638.90.
• On Tuesday, May 19th, Brian Duffy sold 1,986 shares of Atlassian stock. The stock was sold at an average price of $87.75, for a total value of $174,271.50.

Atlassian Price Performance

NASDAQ TEAM opened at $95.61 on Wednesday. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $222.59. The stock has a 50-day moving average of $80.16 and a 200 day moving average of $105.46. The company has a market capitalization of $24.26 billion, a price-to-earnings ratio of -115.19, a PEG ratio of 5.55 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 EPS 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 the consensus estimate of $1.70 billion. During the same period last year, the company earned $0.97 EPS. Atlassian’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, sell-side analysts forecast that Atlassian Corporation PLC will post 0.81 EPS for the current year.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TEAM shares. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a research note on Monday, April 20th. BNP Paribas Exane started coverage on Atlassian in a research note on Monday, March 16th. They set an “outperform” rating and a $95.00 price target for the company. Robert W. Baird set a $120.00 price target on Atlassian in a research note on Friday, May 1st. Sanford C. Bernstein restated an “outperform” rating and set a $295.00 price target on shares of Atlassian in a research note on Friday, May 1st. Finally, TD Cowen boosted their price target on Atlassian from $85.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently 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.