Atlassian (NASDAQ:TEAM) CRO Brian Duffy Sells 3,000 Shares

Key Points

• Atlassian CRO Brian Duffy sold 3,000 shares on June 12 at an average price of $89.71, totaling about $269,130. After the sale, he still held 227,691 shares, and the transaction represented a 1.30% reduction in his ownership.
• Duffy has been actively selling shares recently, with multiple additional sales disclosed over the prior week, including transactions on June 11, June 10, June 9, June 8, and May 19.
• Atlassian shares fell 0.8% to $88.52 on Friday. The company recently beat quarterly earnings and revenue estimates, while analysts maintain a Moderate Buy rating with an average target price of $145.63.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CRO Brian Duffy sold 3,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $89.71, for a total value of $269,130.00. Following the transaction, the executive directly owned 227,691 shares of the company's stock, valued at approximately $20,426,159.61. The trade was a 1.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, June 11th, Brian Duffy sold 1,432 shares of Atlassian stock. The shares were sold at an average price of $88.79, for a total value of $127,147.28.
• On Wednesday, June 10th, Brian Duffy sold 1,813 shares of Atlassian stock. The shares were sold at an average price of $92.79, for a total value of $168,228.27.
• 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 Monday, June 8th, Brian Duffy sold 1,451 shares of Atlassian stock. The shares were sold at an average price of $98.03, for a total value of $142,241.53.
• 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 Trading Down 0.8%

Shares of Atlassian stock traded down $0.68 on Friday, reaching $88.52. The company had a trading volume of 4,881,911 shares, compared to its average volume of 6,949,981. The firm has a market cap of $22.46 billion, a price-to-earnings ratio of -106.65, a P/E/G ratio of 5.19 and a beta of 1.07. 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's 50-day moving average price is $81.07 and its two-hundred day moving average price is $104.69. 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 for the quarter, beating the consensus estimate 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 company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the firm posted $0.97 EPS. Atlassian's quarterly revenue was up 31.7% compared to the same quarter last year. As a group, research analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently bought and sold shares of TEAM. MV Capital Management Inc. bought a new position in Atlassian in the fourth quarter worth approximately $25,000. Western Wealth Management LLC bought a new position in Atlassian in the first quarter worth approximately $30,000. State of Wyoming grew its stake in Atlassian by 65.7% in the first quarter. State of Wyoming now owns 449 shares of the technology company's stock worth $31,000 after purchasing an additional 178 shares in the last quarter. Board of the Pension Protection Fund bought a new position in Atlassian in the fourth quarter worth approximately $32,000. Finally, Basepoint Wealth LLC bought a new position in Atlassian in the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial increased their price objective on shares of Atlassian from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. BMO Capital Markets cut their target price on Atlassian from $130.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, May 1st. Canaccord Genuity Group reduced their price target on Atlassian from $185.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, April 15th. Citigroup decreased their price target on Atlassian from $160.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Finally, Oppenheimer boosted their price objective on Atlassian from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $145.63.

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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