Insider Selling: Atlassian Co. (NASDAQ:TEAM) CAO Sells $188,400.00 in Stock

Atlassian Co. (NASDAQ:TEAM) CAO Gene Liu sold 785 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $240.00, for a total transaction of $188,400.00. Following the completion of the sale, the chief accounting officer now directly owns 57,938 shares in the company, valued at approximately $13,905,120. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Gene Liu also recently made the following trade(s):

• On Thursday, November 7th, Gene Liu sold 445 shares of Atlassian stock. The stock was sold at an average price of $230.00, for a total transaction of $102,350.00.
• On Friday, November 1st, Gene Liu sold 1,024 shares of Atlassian stock. The stock was sold at an average price of $225.45, for a total transaction of $230,860.80.

Atlassian Stock Down 1.1 %

Shares of TEAM opened at $249.99 on Friday. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The company has a 50-day moving average of $184.61 and a two-hundred day moving average of $173.61. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period last year, the company posted ($0.07) earnings per share. As a group, equities analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. JMP Securities raised shares of Atlassian to a “hold” rating in a report on Friday, August 2nd. Truist Financial raised their target price on shares of Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Piper Sandler raised their target price on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $244.21.

Institutional Trading of Atlassian

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Atlassian by 1.4% during the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after purchasing an additional 221,650 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Atlassian by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Atlassian by 0.9% during the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after purchasing an additional 78,454 shares during the period. Dragoneer Investment Group LLC acquired a new stake in shares of Atlassian during the second quarter worth approximately $469,803,000. Finally, Capital International Investors raised its position in Atlassian by 6.3% during the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock valued at $475,399,000 after acquiring an additional 144,117 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

About Atlassian

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.