Key Points
- Atlassian CFO James Chuong sold 8,838 shares on May 19 at an average price of $87.75, totaling about $775,535. The filing says the sale was to cover tax withholding obligations tied to vesting equity awards.
- After the transaction, Chuong still directly owned 288,272 shares, valued at roughly $25.3 million, and his ownership declined by 2.97%.
- Atlassian recently reported stronger-than-expected quarterly results, with EPS of $1.75 versus $1.33 expected and revenue of $1.79 billion versus $1.70 billion expected, while analysts currently rate the stock a consensus Moderate Buy.
Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CFO James Chuong sold 8,838 shares of Atlassian stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares of the company's stock, valued at approximately $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Atlassian Stock Performance
Atlassian stock opened at $82.18 on Friday. The stock has a 50-day simple moving average of $73.61 and a 200 day simple moving average of $110.86. 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 12-month low of $56.01 and a 12-month high of $222.59. The stock has a market capitalization of $20.85 billion, a price-to-earnings ratio of -99.01, a P/E/G ratio of 4.89 and a beta of 0.90.
Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.42. The firm had revenue of $1.79 billion during the quarter, compared to analysts' expectations of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The company's quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 EPS. On average, research analysts anticipate that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
TEAM has been the subject of a number of research reports. Weiss Ratings reissued a "sell (e+)" rating on shares of Atlassian in a research note on Monday, April 20th. Jefferies Financial Group set a $150.00 target price on shares of Atlassian in a research note on Friday, February 6th. Barclays lifted their price target on Atlassian from $106.00 to $112.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. KeyCorp reduced their price objective on shares of Atlassian from $170.00 to $130.00 and set an "overweight" rating for the company in a research report on Wednesday, April 1st. Finally, Cantor Fitzgerald boosted their price objective on Atlassian from $98.00 to $107.00 and gave the stock an "overweight" rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $145.63.
Get Our Latest Analysis on TEAM
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. SBI Securities Co. Ltd. raised its position in Atlassian by 50.7% during the 3rd quarter. SBI Securities Co. Ltd. now owns 40,546 shares of the technology company's stock worth $6,475,000 after purchasing an additional 13,643 shares during the last quarter. OFI Invest Asset Management raised its position in Atlassian by 16.3% during the 4th quarter. OFI Invest Asset Management now owns 254,551 shares of the technology company's stock worth $41,273,000 after purchasing an additional 35,682 shares during the last quarter. Baillie Gifford & Co. raised its position in Atlassian by 3.9% during 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 during the last quarter. Exane Asset Management raised its position in Atlassian by 419.9% during 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 last quarter. Finally, Intech Investment Management LLC raised its position in Atlassian by 180.3% during 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 last quarter. 94.45% of the stock is currently owned by institutional investors.
About Atlassian
(
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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