Atlassian (NASDAQ:TEAM) CRO Sells 1,851 Shares

Key Points

• Atlassian CRO Brian Duffy sold 1,851 shares at an average price of $172.45, generating $319,204.95. The sale reduced his direct ownership by 0.84% and was made to cover tax withholding on vested equity awards.
• Atlassian shares rose 0.4% to $174.91, near the company’s 52-week high of $184.00. The company recently exceeded quarterly earnings and revenue expectations, reporting $1.87 in EPS and $1.77 billion in revenue, up 27.6% year over year.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $177.23; 24 analysts rate the stock a Buy, compared with four Holds and one Sell.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CRO Brian Duffy sold 1,851 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total transaction of $319,204.95. Following the completion of the sale, the executive directly owned 218,223 shares of the company's stock, valued at $37,632,556.35. This trade represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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, August 14th, Brian Duffy sold 7,617 shares of Atlassian stock. The shares were sold at an average price of $163.00, for a total transaction of $1,241,571.00.
• 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 stock was 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 shares were sold at an average price of $92.79, for a total transaction 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 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.

Atlassian Stock Up 0.4%

Shares of NASDAQ:TEAM traded up $0.68 during midday trading on Thursday, hitting $174.91. 5,457,769 shares of the stock were exchanged, compared to its average volume of 5,703,645. The company has a market capitalization of $44.39 billion, a PE ratio of -920.58, a P/E/G ratio of 13.69 and a beta of 1.05. Atlassian Corporation PLC has a 52-week low of $56.01 and a 52-week high of $184.00. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.70 and a current ratio of 0.78. The business's fifty day simple moving average is $104.18 and its two-hundred day simple moving average is $88.91.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced 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 negative net margin of 0.82% and a positive return on equity of 20.99%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the business posted $0.98 EPS. Atlassian's quarterly revenue was up 27.6% on a year-over-year basis. As a group, research analysts predict that Atlassian Corporation PLC will post 0.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TEAM shares. FBN Securities reissued an "outperform" rating and issued a $170.00 price objective on shares of Atlassian in a research report on Monday, August 10th. Sanford C. Bernstein reissued an "outperform" rating on shares of Atlassian in a report on Monday, June 29th. 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. Oppenheimer boosted their price objective on shares of Atlassian from $110.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Finally, TD Cowen upped their price objective on shares of Atlassian from $105.00 to $145.00 and gave the company a "hold" rating in a research report on Friday, August 7th. Twenty-four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $177.23.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MV Capital Management Inc. bought a new position in Atlassian in the fourth quarter worth $25,000. Geneos Wealth Management Inc. increased its holdings in Atlassian by 447.2% in 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 period. Basepoint Wealth LLC bought a new stake in Atlassian in the 4th quarter valued at $32,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Atlassian in the 4th quarter valued at $32,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Atlassian by 76.4% during the 4th 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. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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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