Atlassian (NASDAQ:TEAM) CAO Gene Liu Sells 815 Shares

Key Points

• Atlassian CAO Gene Liu sold 815 shares at an average price of $163, generating $132,845. The sale reduced his holdings by 1.39% and was made to cover tax obligations from vested equity awards.
• Atlassian reported quarterly revenue of $1.77 billion, up 27.6% year over year, and adjusted EPS of $1.87, beating analysts’ estimate of $1.50. Shares recently traded at $158.34, below the 52-week high of $184.
• Analysts maintain a generally positive outlook, with 24 Buy, four Hold and one Sell rating, producing a consensus “Moderate Buy” rating and a $176.27 price target.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CAO Gene Liu sold 815 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $163.00, for a total transaction of $132,845.00. Following the sale, the chief accounting officer owned 57,932 shares of the company's stock, valued at $9,442,916. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 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.
• 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 value of $5,876.57.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $3.88 during trading hours on Monday, reaching $158.34. 3,047,567 shares of the stock were exchanged, compared to its average volume of 5,459,537. The firm has a market capitalization of $40.18 billion, a price-to-earnings ratio of -833.37, a P/E/G ratio of 18.33 and a beta of 1.05. The stock's fifty day simple moving average is $99.46 and its 200 day simple moving average is $87.93. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. 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 issued its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.50 by $0.37. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. Atlassian had a positive return on equity of 20.07% and a negative net margin of 0.82%.The company's revenue for the quarter was up 27.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. Sell-side analysts predict that Atlassian Corporation PLC will post 0.65 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in shares of Atlassian by 71.6% in the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company's stock valued at $1,153,000 after purchasing an additional 2,267 shares during the last quarter. Empowered Funds LLC boosted its position in Atlassian by 39.5% in the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company's stock valued at $995,000 after buying an additional 1,328 shares in the last quarter. Focus Partners Wealth grew its stake in shares of Atlassian by 32.6% during the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company's stock worth $875,000 after buying an additional 1,014 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after buying an additional 161 shares in the last quarter. Finally, Sivia Capital Partners LLC increased its holdings in shares of Atlassian by 27.5% during the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company's stock worth $380,000 after buying an additional 404 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent research reports. Jefferies Financial Group reissued a "buy" rating and issued a $200.00 price objective on shares of Atlassian in a report on Friday, August 7th. BMO Capital Markets lifted their price target on shares of Atlassian from $95.00 to $175.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Bank of America raised Atlassian from a "neutral" rating to a "buy" rating and set a $175.00 price target on the stock in a research report on Friday, August 7th. Sanford C. Bernstein restated an "outperform" rating on shares of Atlassian in a research note on Monday, June 29th. Finally, Wall Street Zen cut Atlassian from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 30th. Twenty-four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $176.27.

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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