Brian Duffy Sells 1,432 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CRO Brian Duffy sold 1,432 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $88.79, for a total transaction of $127,147.28. Following the transaction, the executive owned 230,691 shares in the company, valued at approximately $20,483,053.89. The trade was a 0.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, June 12th, Brian Duffy sold 3,000 shares of Atlassian stock. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00.
• On Wednesday, June 10th, Brian Duffy sold 1,813 shares of Atlassian stock. The stock was sold at an average price of $92.79, for a total transaction of $168,228.27.
• On Tuesday, June 9th, Brian Duffy sold 1,454 shares of Atlassian stock. The stock was sold at an average price of $95.35, for a total transaction 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 transaction 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 transaction of $174,271.50.

Atlassian Stock Performance

NASDAQ TEAM opened at $88.52 on Friday. The stock has a market cap of $22.46 billion, a P/E ratio of -106.65, a PEG ratio of 5.02 and a beta of 1.07. The company’s 50-day simple moving average is $81.45 and its 200 day simple moving average is $104.57. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $222.59. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.42. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 earnings per share. As a group, research analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Atlassian from $155.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 17th. Oppenheimer upped their target price on shares of Atlassian from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. UBS Group lowered their target price on shares of Atlassian from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Citigroup lowered their target price on shares of Atlassian from $160.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, Piper Sandler lowered their target price on shares of Atlassian from $200.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average price target of $145.63.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in shares of Atlassian by 71.6% in the first quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock valued at $1,153,000 after buying an additional 2,267 shares during the last quarter. Empowered Funds LLC lifted its position in Atlassian by 39.5% during the 1st 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 in the last quarter. Focus Partners Wealth lifted its position in Atlassian by 32.6% during the 1st 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 in the last quarter. Geneos Wealth Management Inc. lifted its position in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its position in Atlassian by 27.5% during the 2nd 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 in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Company Profile

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.