Key Points
- Atlassian CFO James Chuong sold 9,054 shares at an average price of $172.45, generating $1.56 million. The sale covered tax-withholding obligations tied to vested equity awards, reducing his ownership by 3.14% to 279,218 shares.
- Atlassian’s latest quarter exceeded expectations, with adjusted EPS of $1.87 versus a $1.50 consensus and revenue of $1.77 billion, up 27.6% year over year.
- Wall Street remains broadly positive on TEAM, with a consensus “Moderate Buy” rating and an average price target of $177.23; institutional investors own 94.45% of the company.
Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CAO Gene Liu sold 1,125 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00. Following the completion of the transaction, the chief accounting officer owned 56,807 shares in the company, valued at approximately $9,941,225. The trade was a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
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 transaction 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
TEAM opened at $174.91 on Friday. The firm has a market cap of $44.39 billion, a price-to-earnings ratio of -920.58, a price-to-earnings-growth ratio of 13.69 and a beta of 1.05. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $184.00. The company's 50-day moving average price is $104.18 and its 200 day moving average price is $88.91. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 0.93.
Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%.The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. Atlassian's quarterly revenue was up 27.6% compared to the same quarter last year. As a group, sell-side analysts expect that Atlassian Corporation PLC will post 0.94 earnings per share for the current year.
Hedge Funds Weigh In On Atlassian
Hedge funds and other institutional investors have recently made changes to their positions in the business. MV Capital Management Inc. bought a new position in Atlassian in the 4th quarter worth approximately $25,000. Manning & Napier Advisors LLC bought a new stake in Atlassian during the 2nd quarter valued at $27,000. MassMutual Private Wealth & Trust FSB boosted its position in Atlassian by 139.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company's stock worth $29,000 after acquiring an additional 220 shares during the period. Western Wealth Management LLC acquired a new position in Atlassian during the 1st quarter worth $30,000. Finally, State of Wyoming grew its stake in shares of Atlassian by 65.7% in the first quarter. State of Wyoming now owns 449 shares of the technology company's stock worth $31,000 after purchasing an additional 178 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on TEAM shares. Barclays raised their price target on Atlassian from $112.00 to $172.00 and gave the stock an "overweight" rating in a report on Monday, August 10th. Truist Financial increased their target price on Atlassian from $160.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday. TD Cowen raised their target price on Atlassian from $105.00 to $145.00 and gave the company a "hold" rating in a research note on Friday, August 7th. Jefferies Financial Group reissued a "buy" rating and set a $200.00 price target on shares of Atlassian in a report on Friday, August 7th. Finally, Wells Fargo & Company boosted their price target on shares of Atlassian from $140.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Twenty-four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $177.23.
Check Out Our Latest Research 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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