Atlassian (NASDAQ:TEAM) CRO Brian Duffy Sells 1,451 Shares

Key Points

• Atlassian CRO Brian Duffy sold 1,451 shares on June 8 at an average price of $98.03, worth about $142,242. After the sale, he still held 235,390 shares.
• The stock fell 2.3% to $95.61 in Tuesday trading, with volume below its average. Atlassian’s market cap was about $24.26 billion.
• Atlassian’s latest earnings beat expectations, posting $1.75 EPS versus $1.33 expected and revenue of $1.79 billion, up 31.7% year over year. Analysts currently rate the stock a Moderate Buy with an average price target of $145.63.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CRO Brian Duffy sold 1,451 shares of Atlassian stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $98.03, for a total value of $142,241.53. Following the completion of the transaction, the executive directly owned 235,390 shares of the company's stock, valued at approximately $23,075,281.70. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Brian Duffy also recently made the following trade(s):

• On Tuesday, June 9th, Brian Duffy sold 1,454 shares of Atlassian stock. The shares were sold at an average price of $95.35, for a total value of $138,638.90.
• On Tuesday, May 19th, Brian Duffy sold 1,986 shares of Atlassian stock. The shares were sold at an average price of $87.75, for a total value of $174,271.50.

Atlassian Stock Down 2.3%

Shares of TEAM traded down $2.28 during trading hours on Tuesday, hitting $95.61. The stock had a trading volume of 3,420,937 shares, compared to its average volume of 6,998,851. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a 50 day simple moving average of $79.55 and a 200-day simple moving average of $105.82. The firm has a market capitalization of $24.26 billion, a P/E ratio of -115.19, a price-to-earnings-growth ratio of 5.64 and a beta of 1.07. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $222.59.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $0.97 EPS. The company's quarterly revenue was up 31.7% on a year-over-year basis. Sell-side analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TEAM shares. Barclays lifted their price target on shares of Atlassian from $106.00 to $112.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. BMO Capital Markets lowered their price target on shares of Atlassian from $130.00 to $105.00 and set an "outperform" rating on the stock in a report on Friday, May 1st. Mizuho lowered their price target on shares of Atlassian from $185.00 to $145.00 and set an "outperform" rating on the stock in a report on Tuesday, April 14th. Zacks Research raised shares of Atlassian from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 6th. Finally, Guggenheim set a $115.00 price target on shares of Atlassian in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and an average price target of $145.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in Atlassian by 12.0% during the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company's stock valued at $100,000 after buying an additional 66 shares during the period. Snowden Capital Advisors LLC raised its stake in shares of Atlassian by 1.6% during the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company's stock valued at $907,000 after acquiring an additional 71 shares during the last quarter. Financial Perspectives Inc boosted its holdings in shares of Atlassian by 11.7% during the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company's stock worth $116,000 after purchasing an additional 75 shares during the period. ABN Amro Investment Solutions boosted its holdings in shares of Atlassian by 3.4% during the third quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company's stock worth $392,000 after purchasing an additional 80 shares during the period. Finally, Clearstead Advisors LLC boosted its holdings in shares of Atlassian by 20.5% during the third quarter. Clearstead Advisors LLC now owns 488 shares of the technology company's stock worth $78,000 after purchasing an additional 83 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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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