Atlassian Co. (NASDAQ:TEAM) CFO Sells $411,485.94 in 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 shares were sold at an average price of $245.81, for a total transaction of $411,485.94. Following the completion of the sale, 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 SEC, which is available through this hyperlink.

Atlassian Trading Up 2.6 %

Shares of 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. The company has a fifty day simple moving average of $194.53 and a 200-day simple moving average of $176.48. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $262.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) EPS. As a group, equities analysts expect that Atlassian Co. will post -0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TEAM shares. Piper Sandler boosted their price target on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Morgan Stanley upped their price target on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Baird R W cut Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. BMO Capital Markets increased their target price on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Finally, Scotiabank lifted their target price on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $244.21.

Institutional Trading of Atlassian

A number of large investors have recently bought and sold shares of TEAM. Asset Dedication LLC raised its holdings in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Trust Co. of Vermont increased its position in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares during the period. Rothschild Investment LLC purchased a new stake in Atlassian during the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC lifted its position in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the period. Finally, True Wealth Design LLC grew its stake in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.