Joseph Leo Binz Sells 3,027 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CFO Joseph Leo Binz sold 3,027 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $225.51, for a total value of $682,618.77. Following the sale, the chief financial officer now owns 164,559 shares in the company, valued at approximately $37,109,700.09. This represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Joseph Leo Binz also recently made the following trade(s):

• On Friday, February 14th, Joseph Leo Binz sold 2,587 shares of Atlassian stock. The shares were sold at an average price of $312.09, for a total transaction of $807,376.83.

Atlassian Trading Down 1.8%

Shares of TEAM opened at $220.88 on Friday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a market cap of $57.87 billion, a price-to-earnings ratio of -164.83 and a beta of 1.06. The firm has a 50 day moving average price of $213.69 and a 200-day moving average price of $246.60. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently modified their holdings of TEAM. Murphy & Mullick Capital Management Corp bought a new position in Atlassian during the 4th quarter worth approximately $27,000. Clean Yield Group boosted its stake in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after purchasing an additional 93 shares during the period. Colonial Trust Co SC grew its holdings in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after purchasing an additional 69 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Atlassian in the fourth quarter worth approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian in the fourth quarter worth $39,000. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Baird R W raised shares of Atlassian from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. William Blair restated an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Finally, BMO Capital Markets decreased their target price on Atlassian from $295.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $285.29.

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.