Atlassian (NASDAQ:TEAM) CRO Brian Duffy Sells 1,813 Shares

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,813 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $92.79, for a total value of $168,228.27. Following the completion of the sale, the executive directly owned 232,123 shares of the company’s stock, valued at approximately $21,538,693.17. This represents a 0.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Brian Duffy also recently made the following trade(s):

• On Friday, June 12th, Brian Duffy sold 3,000 shares of Atlassian stock. The shares were sold at an average price of $89.71, for a total value of $269,130.00.
• On Thursday, June 11th, Brian Duffy sold 1,432 shares of Atlassian stock. The shares were sold at an average price of $88.79, for a total value of $127,147.28.
• On Tuesday, June 9th, Brian Duffy sold 1,454 shares of Atlassian stock. The shares were sold at an average price of $95.35, for a total value of $138,638.90.
• 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 value 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 value of $174,271.50.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded down $0.68 during midday trading on Friday, hitting $88.52. The company had a trading volume of 4,881,911 shares, compared to its average volume of 6,949,981. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $222.59. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $22.46 billion, a price-to-earnings ratio of -106.65, a price-to-earnings-growth ratio of 5.19 and a beta of 1.07. The business’s 50-day simple moving average is $81.07 and its 200-day simple moving average is $104.69.

Atlassian (NASDAQ:TEAM) last issued 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 company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 earnings per share. On average, research analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TEAM. NewEdge Advisors LLC boosted its position in shares of Atlassian by 71.6% during the first quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock worth $1,153,000 after buying an additional 2,267 shares during the period. Empowered Funds LLC boosted its position in shares of Atlassian by 39.5% during the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock worth $995,000 after buying an additional 1,328 shares during the period. Focus Partners Wealth boosted its position in shares of Atlassian by 32.6% during the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock worth $875,000 after buying an additional 1,014 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares during the period. Finally, Sivia Capital Partners LLC boosted its position in shares of Atlassian by 27.5% during the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock worth $380,000 after buying an additional 404 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TEAM shares. Truist Financial increased their price objective on Atlassian from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Canaccord Genuity Group lowered their price objective on Atlassian from $185.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Morgan Stanley lowered their price objective on Atlassian from $290.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Mizuho lowered their price objective on Atlassian from $185.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, April 14th. Finally, TD Cowen increased their price objective on Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.63.

About Atlassian

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.