Insider Selling: Atlassian Co. (NASDAQ:TEAM) CFO Sells 1,674 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CFO Joseph Leo Binz sold 1,674 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total transaction of $411,485.94. Following the transaction, the chief financial officer now owns 171,929 shares in the company, valued at approximately $42,261,867.49. This trade represents a 0.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Atlassian Price Performance

Atlassian stock opened at $260.58 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $262.00. The firm has a 50 day moving average price of $194.53 and a 200 day moving average price of $176.48.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating 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 quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) EPS. As a group, sell-side analysts forecast that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC purchased a new stake in shares of Atlassian during the 2nd quarter worth about $469,803,000. Price T Rowe Associates Inc. MD raised its holdings in Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after buying an additional 904,138 shares during the period. Point72 Asset Management L.P. lifted its position in Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after buying an additional 617,566 shares in the last quarter. Two Sigma Advisers LP grew its stake in Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after buying an additional 551,500 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Atlassian in the second quarter worth $91,072,000. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TEAM. Wells Fargo & Company boosted their target price on Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Scotiabank lifted their price target on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Robert W. Baird increased their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. KeyCorp upgraded shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price on the stock in a research report on Friday, November 1st. Finally, Truist Financial increased their price target on shares of Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a report 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $244.21.

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.