Insider Selling: Atlassian (NASDAQ:TEAM) CRO Sells $127,147.28 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,432 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $88.79, for a total transaction of $127,147.28. Following the completion of the transaction, the executive directly owned 230,691 shares in the company, valued at $20,483,053.89. This trade represents a 0.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Friday, June 12th, Brian Duffy sold 3,000 shares of Atlassian stock. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00.
• On Wednesday, June 10th, Brian Duffy sold 1,813 shares of Atlassian stock. The stock was sold at an average price of $92.79, for a total transaction of $168,228.27.
• 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 shares were 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 Price Performance

Atlassian stock opened at $88.52 on Monday. The company has a market cap of $22.46 billion, a price-to-earnings ratio of -106.65, a PEG ratio of 5.02 and a beta of 1.07. The firm’s fifty day moving average is $81.45 and its 200 day moving average is $104.28. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $222.59.

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

Institutional Investors Weigh In On Atlassian

Hedge funds and other institutional investors have recently made changes to their positions in the company. MV Capital Management Inc. purchased a new stake in shares of Atlassian in the fourth quarter valued at $25,000. Geneos Wealth Management Inc. raised its stake in shares of Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after acquiring an additional 161 shares during the period. Board of the Pension Protection Fund purchased a new stake in shares of Atlassian in the fourth quarter valued at $32,000. Basepoint Wealth LLC purchased a new stake in shares of Atlassian in the fourth quarter valued at $32,000. Finally, Garton & Associates Financial Advisors LLC purchased a new stake in shares of Atlassian in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. KeyCorp decreased their price target on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. TD Cowen upped their price target on shares of Atlassian from $85.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, May 1st. Guggenheim set a $115.00 price target on shares of Atlassian in a research note on Thursday, April 9th. Wolfe Research reaffirmed an “outperform” rating and set a $100.00 price target on shares of Atlassian in a research note on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $145.63.

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.