Key Points
- Atlassian CRO Brian Duffy sold shares on June 9, disposing of 1,454 shares at an average price of $95.35 for a total of $138,638.90. After the sale, he still held 233,936 shares worth about $22.3 million.
- Duffy has been actively selling Atlassian stock recently, including two more transactions on June 8 and May 19. Those sales totaled more than $316,000 combined.
- Atlassian reported solid quarterly results with EPS of $1.75 versus $1.33 expected and revenue of $1.79 billion, up 31.7% year over year. Despite that, the stock was down 2.3% and analysts currently have a consensus “Moderate Buy” rating with an average target of $145.63.
Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CRO Brian Duffy sold 1,454 shares of Atlassian stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $95.35, for a total transaction of $138,638.90. Following the completion of the sale, the executive owned 233,936 shares in the company, valued at $22,305,797.60. The trade was a 0.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Brian Duffy also recently made the following trade(s):
- 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 Stock Down 2.3%
Shares of TEAM stock opened at $95.61 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $222.59. The firm's fifty day moving average price is $80.16 and its two-hundred day moving average price is $105.46. The firm has a market capitalization of $24.26 billion, a P/E ratio of -115.19, a PEG ratio of 5.55 and a beta of 1.07.
Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the business earned $0.97 EPS. The company's revenue was up 31.7% compared to the same quarter last year. On average, equities analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on TEAM shares. TD Cowen lifted their price objective on shares of Atlassian from $85.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, May 1st. Raymond James Financial set a $130.00 price objective on shares of Atlassian in a research report on Friday, May 1st. Wall Street Zen downgraded shares of Atlassian from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 30th. Weiss Ratings reissued a "sell (e+)" rating on shares of Atlassian in a research report on Monday, April 20th. Finally, Canaccord Genuity Group decreased their price objective on shares of Atlassian from $185.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and an average price target of $145.63.
Read Our Latest Research Report on TEAM
Institutional Trading of Atlassian
Several hedge funds and other institutional investors have recently modified their holdings of TEAM. MV Capital Management Inc. bought a new stake in shares of Atlassian during the 4th quarter worth about $25,000. Western Wealth Management LLC bought a new stake in shares of Atlassian during the 1st quarter worth about $30,000. State of Wyoming boosted its holdings in shares of Atlassian by 65.7% during the 1st quarter. State of Wyoming now owns 449 shares of the technology company's stock worth $31,000 after buying an additional 178 shares during the period. Atlantic Union Bankshares Corp boosted its holdings in shares of Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company's stock worth $32,000 after buying an additional 199 shares during the period. Finally, Board of the Pension Protection Fund bought a new stake in shares of Atlassian during the 4th quarter worth about $32,000. Institutional investors own 94.45% of the company's stock.
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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