Atlassian Corporation PLC (NASDAQ:TEAM) CFO Sells $498,134.64 in Stock

Key Points

• Atlassian CFO Joseph Leo Binz sold 3,048 shares at an average price of $163.43, totaling approximately $498,134, resulting in a 1.87% decrease in his position.
• The company reported $1.38 billion in revenue for the last quarter, a 22.3% increase year-over-year, and beat EPS expectations with a reported $0.98 compared to the consensus estimate of $0.83.
• Atlassian's stock has a consensus rating of "Moderate Buy" and a current price target of $259.76 among analysts, with recent target price adjustments ranging from $200 to $275.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CFO Joseph Leo Binz sold 3,048 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 value of $498,134.64. Following the completion of the transaction, the chief financial officer owned 159,741 shares of the company's stock, valued at approximately $26,106,471.63. The trade was a 1.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, May 19th, Joseph Leo Binz sold 1,770 shares of Atlassian stock. The shares were sold at an average price of $214.87, for a total value of $380,319.90.

Atlassian Trading Up 1.6%

Shares of Atlassian stock traded up $2.61 on Friday, reaching $167.00. The company had a trading volume of 2,742,190 shares, compared to its average volume of 2,409,158. The firm's 50 day moving average price is $195.39 and its two-hundred day moving average price is $223.24. The firm has a market cap of $43.84 billion, a PE ratio of -168.69 and a beta of 0.96. Atlassian Corporation PLC has a 52-week low of $145.88 and a 52-week high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, beating 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 firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm earned $0.66 EPS. Atlassian's revenue for the quarter was up 22.3% on a year-over-year basis. Sell-side analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the topic of several recent analyst reports. Raymond James Financial set a $250.00 target price on Atlassian and gave the company an "outperform" rating in a research note on Friday, August 8th. Mizuho set a $235.00 target price on Atlassian and gave the company an "outperform" rating in a research note on Friday, August 8th. KeyCorp cut their target price on Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. BMO Capital Markets cut their target price on Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, Truist Financial set a $230.00 target price on Atlassian in a research note on Friday, August 8th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.76.

Institutional Trading of Atlassian

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Atlassian by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 17,430,078 shares of the technology company's stock valued at $3,539,875,000 after acquiring an additional 436,541 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Atlassian by 7.1% in the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after buying an additional 573,696 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Atlassian by 66.3% during the second quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company's stock valued at $787,610,000 after purchasing an additional 1,545,546 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Atlassian by 21.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock worth $730,175,000 after acquiring an additional 616,071 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in Atlassian by 24.1% in the first quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company's stock worth $571,894,000 after purchasing an additional 523,035 shares during the period. 94.45% of the stock is currently owned by institutional investors.

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.

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