Insider Selling: Atlassian Co. (NASDAQ:TEAM) CAO Sells 1,024 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the transaction, the chief accounting officer now owns 59,168 shares in the company, valued at approximately $13,339,425.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Atlassian Stock Performance

Atlassian stock opened at $218.96 on Tuesday. The company has a market cap of $56.94 billion, a PE ratio of -144.05 and a beta of 0.71. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The company has a fifty day moving average price of $174.38 and a two-hundred day moving average price of $171.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. During the same period last year, the firm earned ($0.07) EPS. The firm’s revenue was up 21.5% compared to the same quarter last year. Research analysts expect that Atlassian Co. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price objective on Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler increased their price objective on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a research report on Thursday, July 11th. Robert W. Baird increased their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday. Finally, Scotiabank boosted their price target on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $243.16.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently made changes to their positions in the business. Financial Advocates Investment Management lifted its position in shares of Atlassian by 1.7% in the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after buying an additional 62 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Atlassian by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after acquiring an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after acquiring an additional 70 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Atlassian by 0.4% during the first quarter. Daiwa Securities Group Inc. now owns 19,544 shares of the technology company’s stock valued at $3,813,000 after acquiring an additional 72 shares during the period. Finally, SkyView Investment Advisors LLC boosted its position in Atlassian by 2.1% in the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Company Profile

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.