Gene Liu Sells 779 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CAO Gene Liu sold 779 shares of Atlassian stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the completion of the sale, the chief accounting officer now owns 52,710 shares of the company’s stock, valued at $16,867,727.10. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, November 19th, Gene Liu sold 165 shares of Atlassian stock. The stock was sold at an average price of $245.84, for a total transaction of $40,563.60.
• On Monday, November 11th, Gene Liu sold 785 shares of Atlassian stock. The stock was sold at an average price of $240.00, for a total transaction of $188,400.00.
• 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.

Atlassian Trading Up 1.7 %

Shares of NASDAQ TEAM opened at $316.73 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average price is $262.61 and its two-hundred day moving average price is $210.38. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $324.37. The stock has a market capitalization of $82.49 billion, a P/E ratio of -236.36 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 18.00% and a negative net margin of 7.22%. On average, analysts anticipate that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Allworth Financial LP grew its position in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after acquiring an additional 47 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Atlassian by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after acquiring an additional 54 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Atlassian by 4.0% during the 4th quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock valued at $357,000 after purchasing an additional 56 shares during the period. J.W. Cole Advisors Inc. boosted its position in Atlassian by 1.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock valued at $963,000 after purchasing an additional 59 shares during the period. Finally, Legacy Wealth Asset Management LLC boosted its position in Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after purchasing an additional 70 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TEAM. Macquarie started coverage on Atlassian in a report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 target price on the stock. Wells Fargo & Company boosted their target price on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Oppenheimer raised their price target on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Piper Sandler boosted their price objective on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Mizuho raised their target price on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $318.43.

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.