Atlassian (NASDAQ:TEAM) CFO James Chuong Sells 9,054 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CFO James Chuong sold 9,054 shares of Atlassian stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the completion of the transaction, the chief financial officer directly owned 279,218 shares in the company, valued at approximately $48,151,144.10. The trade was a 3.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Atlassian Stock Up 0.4%

Atlassian stock opened at $174.91 on Friday. The company has a 50 day moving average of $104.18 and a 200-day moving average of $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 Corporation PLC has a twelve month low of $56.01 and a twelve month high of $184.00. The stock has a market capitalization of $44.39 billion, a PE ratio of -920.58, a price-to-earnings-growth ratio of 13.69 and a beta of 1.05.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.37. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The firm’s quarterly revenue was up 27.6% on a year-over-year basis. During the same period last year, the business posted $0.98 earnings per share. On average, equities research analysts anticipate that Atlassian Corporation PLC will post 0.94 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new position in Atlassian in the second quarter valued at approximately $310,000. Greenleaf Trust bought a new stake in shares of Atlassian during the 2nd quarter worth approximately $242,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Atlassian in the 2nd quarter valued at approximately $3,758,000. Manning & Napier Advisors LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at approximately $27,000. Finally, Globeflex Capital L P bought a new position in shares of Atlassian in the second quarter valued at $458,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of recent research reports. BMO Capital Markets lifted their target price on Atlassian from $95.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Barclays upped their price target on Atlassian from $112.00 to $172.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. UBS Group lifted their price objective on shares of Atlassian from $95.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, August 7th. KeyCorp boosted their price objective on shares of Atlassian from $115.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Finally, Guggenheim boosted their price objective on shares of Atlassian from $115.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Twenty-four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $177.23.

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.