Atlassian (NASDAQ:TEAM) CAO Gene Liu Sells 1,125 Shares of Stock

Key Points

• Atlassian CAO Gene Liu sold 1,125 shares at an average price of $175, generating $196,875 and reducing his ownership by 1.94% to 56,807 shares. He also sold shares in two earlier August transactions.
• Atlassian shares rose 0.4% to $174.91, near the company’s 52-week high of $184.00. The stock has a market capitalization of approximately $44.39 billion.
• The company reported quarterly revenue of $1.77 billion and adjusted earnings of $1.87 per share, surpassing analyst expectations, while revenue increased 27.6% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $177.23.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CAO Gene Liu sold 1,125 shares of Atlassian stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $175.00, for a total value of $196,875.00. Following the completion of the transaction, the chief accounting officer owned 56,807 shares in the company, valued at $9,941,225. This trade represents a 1.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, August 14th, Gene Liu sold 815 shares of Atlassian stock. The shares were sold at an average price of $163.00, for a total value of $132,845.00.
• On Thursday, August 13th, Gene Liu sold 737 shares of Atlassian stock. The shares were sold at an average price of $165.00, for a total value of $121,605.00.

Atlassian Stock Up 0.4%

Shares of NASDAQ TEAM traded up $0.68 during midday trading on Thursday, reaching $174.91. 5,457,769 shares of the company's stock were exchanged, compared to its average volume of 5,703,645. The stock has a market capitalization of $44.39 billion, a PE ratio of -920.58, a price-to-earnings-growth ratio of 13.69 and a beta of 1.05. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.70 and a current ratio of 0.78. The business's fifty day moving average price is $104.18 and its two-hundred day moving average price is $88.91. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $184.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.37. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%.The firm had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Atlassian's revenue for the quarter was up 27.6% compared to the same quarter last year. Analysts forecast that Atlassian Corporation PLC will post 0.94 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on TEAM. Jefferies Financial Group reiterated a "buy" rating and issued a $200.00 price objective on shares of Atlassian in a research note on Friday, August 7th. Morgan Stanley increased their target price on Atlassian from $120.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Barclays lifted their price target on Atlassian from $112.00 to $172.00 and gave the company an "overweight" rating in a report on Monday, August 10th. Truist Financial upped their price target on shares of Atlassian from $160.00 to $185.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Oppenheimer increased their price objective on shares of Atlassian from $110.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Twenty-four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $177.23.

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in TEAM. Proficio Capital Partners LLC acquired a new stake in shares of Atlassian in the second quarter valued at approximately $310,000. Greenleaf Trust bought a new position in Atlassian during the 2nd quarter worth $242,000. Public Employees Retirement System of Ohio acquired a new position in Atlassian in the second quarter valued at about $3,758,000. Manning & Napier Advisors LLC acquired a new position in Atlassian during the second quarter valued at approximately $27,000. Finally, Globeflex Capital L P bought a new position in Atlassian in the second quarter valued at about $458,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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