Key Points
- Atlassian CRO Brian Duffy sold 1,986 shares on May 19 at an average price of $87.75, for total proceeds of about $174,272. The filing says the sale was to cover tax withholding tied to vested equity awards.
- Atlassian recently reported stronger-than-expected quarterly results, with EPS of $1.75 versus the $1.33 consensus and revenue of $1.79 billion, up 31.7% year over year. The company also beat revenue expectations of $1.70 billion.
- Wall Street remains broadly positive on TEAM, with an average analyst rating of “Moderate Buy” and an average price target of $145.63. However, recent targets have been mixed, reflecting some divergence in analyst views.
Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CRO Brian Duffy sold 1,986 shares of the business's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $174,271.50. Following the completion of the transaction, the executive directly owned 236,841 shares of the company's stock, valued at approximately $20,782,797.75. This represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Brian Duffy also recently made the following trade(s):
- On Thursday, February 19th, Brian Duffy sold 1,222 shares of Atlassian stock. The stock was sold at an average price of $81.35, for a total transaction of $99,409.70.
Atlassian Price Performance
TEAM stock opened at $86.23 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $222.59. The stock has a market cap of $21.88 billion, a PE ratio of -103.89, a P/E/G ratio of 4.91 and a beta of 0.90. The firm has a 50 day simple moving average of $73.52 and a two-hundred day simple moving average of $111.47.
Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.70 billion. During the same quarter in the previous year, the company earned $0.97 EPS. The business's quarterly revenue was up 31.7% compared to the same quarter last year. On average, analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.
Institutional Investors Weigh In On Atlassian
A number of institutional investors have recently made changes to their positions in TEAM. MV Capital Management Inc. purchased a new stake in shares of Atlassian in the 4th quarter valued at $25,000. Physician Wealth Advisors Inc. boosted its stake in shares of Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company's stock valued at $26,000 after purchasing an additional 61 shares in the last quarter. Western Wealth Management LLC purchased a new stake in shares of Atlassian in the 1st quarter valued at $30,000. State of Wyoming boosted its stake in shares of Atlassian by 65.7% in the 1st quarter. State of Wyoming now owns 449 shares of the technology company's stock valued at $31,000 after purchasing an additional 178 shares in the last quarter. Finally, Atlantic Union Bankshares Corp boosted its stake in shares of Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company's stock valued at $32,000 after purchasing an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on TEAM. Sanford C. Bernstein reissued an "outperform" rating and issued a $295.00 price target on shares of Atlassian in a research note on Friday, May 1st. Barclays boosted their price target on shares of Atlassian from $106.00 to $112.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Citigroup cut their price target on shares of Atlassian from $160.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Raymond James Financial set a $130.00 price target on shares of Atlassian in a research note on Friday, May 1st. Finally, TD Cowen upped their price objective 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. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $145.63.
View Our Latest Stock Report on TEAM
Atlassian Company Profile
(
Get Free Report)
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.
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