Atlassian (NASDAQ:TEAM) CRO Brian Duffy Sells 7,617 Shares of Stock

Key Points

• Atlassian CRO Brian Duffy sold 7,617 shares at an average price of $163, generating $1.24 million. The sale covered tax withholding tied to vested equity awards, leaving him with 220,074 shares.
• Atlassian recently reported stronger-than-expected quarterly results, with earnings of $1.87 per share versus the $1.50 consensus and revenue of $1.77 billion, up 27.6% year over year.
• Shares fell 2.4% to $158.34, while analysts maintained a generally positive view: 24 rated the stock Buy, with a consensus “Moderate Buy” rating and an average price target of $176.27.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CRO Brian Duffy sold 7,617 shares of Atlassian stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the completion of the transaction, the executive owned 220,074 shares of the company's stock, valued at $35,872,062. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, June 12th, Brian Duffy sold 3,000 shares of Atlassian stock. The shares were sold at an average price of $89.71, for a total transaction of $269,130.00.
• 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 transaction of $127,147.28.
• On Wednesday, June 10th, Brian Duffy sold 1,813 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $95.35, for a total transaction of $138,638.90.
• On Monday, June 8th, Brian Duffy sold 1,451 shares of Atlassian stock. The stock was sold at an average price of $98.03, for a total transaction 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 2.4%

Shares of TEAM traded down $3.88 during trading hours on Monday, reaching $158.34. 3,047,567 shares of the company traded hands, compared to its average volume of 5,459,537. The company's fifty day moving average price is $99.46 and its two-hundred day moving average price is $87.93. 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 company has a market capitalization of $40.18 billion, a price-to-earnings ratio of -833.37, a price-to-earnings-growth ratio of 18.33 and a beta of 1.05. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $184.00.

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

Analysts Set New Price Targets

A number of analysts have recently commented on TEAM shares. Wall Street Zen cut shares of Atlassian from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 30th. Morgan Stanley increased their price target on shares of Atlassian from $120.00 to $180.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Robert W. Baird set a $200.00 price objective on shares of Atlassian in a research note on Friday, August 7th. Guggenheim upped their price objective on shares of Atlassian from $115.00 to $165.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $126.00 target price on shares of Atlassian in a report on Monday, August 3rd. Twenty-four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $176.27.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in shares of Atlassian by 291.4% in the fourth quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company's stock worth $1,256,535,000 after acquiring an additional 5,769,788 shares during the period. Norges Bank purchased a new stake in Atlassian in the fourth quarter worth approximately $323,526,000. Morgan Stanley grew its position in Atlassian by 52.4% in the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company's stock worth $781,841,000 after purchasing an additional 1,657,309 shares during the period. Carmignac Gestion raised its stake in Atlassian by 115.8% during the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company's stock valued at $177,707,000 after buying an additional 1,397,402 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Atlassian by 1,691.2% during the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company's stock valued at $98,281,000 after buying an additional 1,359,624 shares during the period. Institutional investors own 94.45% of the company's stock.

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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