Insider Selling: Atlassian Co. (NASDAQ:TEAM) CAO Sells 785 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CAO Gene Liu sold 785 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $240.00, for a total value of $188,400.00. Following the transaction, the chief accounting officer now directly owns 57,938 shares of the company’s stock, valued at approximately $13,905,120. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Gene Liu also recently made the following trade(s):

• On Thursday, November 7th, Gene Liu sold 445 shares of Atlassian stock. The shares were sold at an average price of $230.00, for a total transaction of $102,350.00.
• On Friday, November 1st, Gene Liu sold 1,024 shares of Atlassian stock. The stock was sold at an average price of $225.45, for a total transaction of $230,860.80.

Atlassian Stock Performance

Shares of TEAM stock traded down $0.57 during trading hours on Tuesday, hitting $245.28. The company’s stock had a trading volume of 2,263,224 shares, compared to its average volume of 1,855,370. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average of $181.17 and a 200 day moving average of $172.59. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The stock has a market cap of $63.88 billion, a PE ratio of -160.04 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. On average, sell-side analysts forecast that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Institutional Trading of Atlassian

A number of institutional investors have recently made changes to their positions in the company. Asset Dedication LLC lifted its holdings in 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 acquiring an additional 108 shares during the last quarter. Trust Co. of Vermont increased its holdings in Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after buying an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new position in Atlassian in the second quarter valued at approximately $36,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Atlassian in the first quarter valued at $40,000. Finally, Crewe Advisors LLC acquired a new position in Atlassian during the first quarter worth approximately $43,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on TEAM shares. Jefferies Financial Group raised their price target on Atlassian from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Raymond James boosted their target price on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird raised their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Scotiabank raised their target price on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, JMP Securities raised Atlassian to a “hold” rating in a research note on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.16.

Atlassian Company Profile

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.