Atlassian (NASDAQ:TEAM) CAO Sells 1,125 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CAO Gene Liu sold 1,125 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00. Following the sale, the chief accounting officer directly owned 56,807 shares of the company’s stock, valued at approximately $9,941,225. This trade represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, August 14th, Gene Liu sold 815 shares of Atlassian stock. The shares were sold at an average price of $163.00, for a total value of $132,845.00.
• On Thursday, August 13th, Gene Liu sold 737 shares of Atlassian stock. The shares were sold at an average price of $165.00, for a total transaction of $121,605.00.

Atlassian Price Performance

NASDAQ TEAM traded up $0.68 during trading on Thursday, reaching $174.91. The company’s stock had a trading volume of 5,457,769 shares, compared to its average volume of 5,703,645. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $184.00. The stock has a market capitalization of $44.39 billion, a PE ratio of -920.58, a P/E/G ratio of 13.69 and a beta of 1.05. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.78 and a quick ratio of 0.70. The firm has a fifty day moving average of $104.18 and a 200 day moving average of $88.91.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Truist Financial increased their price target on Atlassian from $160.00 to $185.00 and gave the company a “buy” rating in a report on Thursday. Barclays boosted their target price on shares of Atlassian from $112.00 to $172.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. UBS Group lifted their price objective on shares of Atlassian from $95.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Morgan Stanley lifted their target price on shares of Atlassian from $120.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Atlassian in a research note on Monday, June 29th. Twenty-four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $177.23.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently made changes to their positions in TEAM. Nicholas Company Inc. lifted its position in shares of Atlassian by 8.7% during the 4th quarter. Nicholas Company Inc. now owns 306,819 shares of the technology company’s stock valued at $49,748,000 after acquiring an additional 24,490 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Atlassian by 25.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 139,400 shares of the technology company’s stock worth $22,602,000 after purchasing an additional 28,001 shares during the last quarter. Tensor Edge Capital LLC acquired a new stake in Atlassian during the fourth quarter worth approximately $5,028,000. M&T Bank Corp grew its position in shares of Atlassian by 481.7% in the fourth quarter. M&T Bank Corp now owns 24,651 shares of the technology company’s stock valued at $3,997,000 after purchasing an additional 20,413 shares during the period. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Atlassian by 69.4% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 62,000 shares of the technology company’s stock worth $4,232,000 after acquiring an additional 25,400 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.