Atlassian (NASDAQ:TEAM) CAO Gene Liu Sells 737 Shares

Key Points

• Atlassian CAO Gene Liu sold 737 shares at an average price of $165, generating $121,605; the sale was made to cover tax withholding from vested equity awards. He retained 58,747 shares valued at approximately $9.7 million.
• Atlassian shares fell 2.4% to $158.34, despite the company reporting quarterly revenue of $1.77 billion and EPS of $1.87, both above analyst expectations. Revenue increased 27.6% year over year.
• Analyst sentiment remains broadly positive: 24 analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and an average price target of $176.27; institutional investors own 94.45% of the company.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CAO Gene Liu sold 737 shares of the business's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $165.00, for a total transaction of $121,605.00. Following the transaction, the chief accounting officer directly owned 58,747 shares in the company, valued at approximately $9,693,255. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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 transaction of $132,845.00.
• On Tuesday, May 19th, Gene Liu sold 67 shares of Atlassian stock. The stock was sold at an average price of $87.71, for a total transaction of $5,876.57.

Atlassian Stock Down 2.4%

Shares of Atlassian stock traded down $3.88 during trading hours on Monday, hitting $158.34. 3,047,567 shares of the company's stock traded hands, compared to its average volume of 5,459,537. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $184.00. The company has a market cap of $40.18 billion, a PE ratio of -833.37, a PEG ratio of 18.33 and a beta of 1.05. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The stock has a 50 day simple moving average of $99.46 and a 200-day simple moving average of $87.93.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.50 by $0.37. Atlassian had a positive return on equity of 20.07% and a negative net margin of 0.82%.The business had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The company's revenue was up 27.6% compared to the same quarter last year. Equities research analysts anticipate that Atlassian Corporation PLC will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Several institutional investors have recently added to or reduced their stakes in TEAM. MV Capital Management Inc. acquired a new stake in shares of Atlassian during the fourth quarter worth $25,000. Geneos Wealth Management Inc. grew its position in shares of 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 buying an additional 161 shares during the last quarter. Basepoint Wealth LLC bought a new stake in shares of Atlassian during the 4th quarter valued at about $32,000. Garton & Associates Financial Advisors LLC acquired a new stake in Atlassian during the fourth quarter worth about $32,000. Finally, Bogart Wealth LLC raised its stake in Atlassian by 76.4% during the fourth quarter. Bogart Wealth LLC now owns 217 shares of the technology company's stock worth $35,000 after acquiring an additional 94 shares during the period. Institutional investors own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of recent analyst reports. Citigroup raised their price target on shares of Atlassian from $110.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Wells Fargo & Company upped their price target on shares of Atlassian from $140.00 to $180.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Jefferies Financial Group reissued a "buy" rating and set a $200.00 price objective on shares of Atlassian in a report on Friday, August 7th. Weiss Ratings reissued a "sell (e+)" rating on shares of Atlassian in a research report on Friday, July 17th. Finally, Bank of America upgraded shares of Atlassian from a "neutral" rating to a "buy" rating and set a $175.00 target price on the stock in a research note on Friday, August 7th. Twenty-four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $176.27.

About Atlassian

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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