Atlassian Corporation PLC (NASDAQ:TEAM) CAO Gene Liu Sells 765 Shares

Key Points

• Gene Liu, the CAO of Atlassian Corporation PLC, sold 765 shares of the company stock at an average price of $163.43, totaling $125,023.95, which brought his ownership down to 50,595 shares.
• Atlassian recently reported quarterly earnings of $0.98 per share, exceeding expectations and marking a 22.3% increase in revenue compared to the same quarter last year.
• Analysts have set new price targets for Atlassian stock, with Barclays lowering its target from $244 to $215, while Piper Sandler maintains an "overweight" rating with a target of $300.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CAO Gene Liu sold 765 shares of Atlassian stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $125,023.95. Following the transaction, the chief accounting officer directly owned 50,595 shares in the company, valued at $8,268,740.85. The trade was a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, May 19th, Gene Liu sold 121 shares of Atlassian stock. The shares were sold at an average price of $214.88, for a total transaction of $26,000.48.

Atlassian Stock Performance

Shares of TEAM stock traded up $2.61 on Friday, hitting $167.00. The company's stock had a trading volume of 2,742,190 shares, compared to its average volume of 2,409,158. Atlassian Corporation PLC has a fifty-two week low of $145.88 and a fifty-two week high of $326.00. The stock's 50 day moving average is $194.44 and its 200-day moving average is $222.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $43.84 billion, a PE ratio of -168.69 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. Atlassian had a negative net margin of 4.92% and a negative return on equity of 15.19%. The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. Atlassian's revenue was up 22.3% compared to the same quarter last year. Equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on TEAM. Barclays cut their price target on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Capital One Financial lowered shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target on the stock. in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Piper Sandler reiterated an "overweight" rating and issued a $300.00 price target (down from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. Finally, UBS Group reiterated a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus target price of $259.76.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Clean Yield Group lifted its holdings in shares of Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after acquiring an additional 93 shares during the last quarter. Capco Asset Management LLC acquired a new position in shares of Atlassian in the second quarter valued at approximately $25,000. Colonial Trust Co SC increased its stake 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 valued at $34,000 after buying an additional 69 shares during the period. Smithfield Trust Co increased its stake in shares of Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after buying an additional 78 shares during the period. Finally, Geneos Wealth Management Inc. increased 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 valued at $42,000 after purchasing an additional 161 shares during the period. Institutional investors own 94.45% of the company's stock.

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.

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