Atlassian (NASDAQ:TEAM) CAO Gene Liu Sells 939 Shares

Key Points

• Atlassian CAO Gene Liu sold 939 shares on August 28 at an average price of $190, generating $178,410. After the sale, Liu retained 55,868 shares valued at approximately $10.6 million; he has also sold shares in three earlier August transactions.
• Atlassian shares rose 2% to $194.17 and are near their 12-month high of $197.30. The company recently exceeded quarterly expectations, reporting $1.87 in EPS versus a $1.50 consensus and $1.77 billion in revenue, up 27.6% year over year.
• Wall Street maintains a “Moderate Buy” consensus, with 25 Buy, four Hold and one Sell rating and an average price target of $179.93. Institutional investors own 94.45% of Atlassian’s outstanding stock.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CAO Gene Liu sold 939 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $190.00, for a total transaction of $178,410.00. Following the completion of the sale, the chief accounting officer directly owned 55,868 shares in the company, valued at $10,614,920. This trade represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gene Liu also recently made the following trade(s):

• On Wednesday, August 19th, Gene Liu sold 1,125 shares of Atlassian stock. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00.
• On Friday, August 14th, Gene Liu sold 815 shares of Atlassian stock. The shares were sold at an average price of $163.00, for a total value of $132,845.00.
• 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.

Atlassian Trading Up 2.0%

Shares of NASDAQ TEAM traded up $3.76 during midday trading on Monday, hitting $194.17. The company's stock had a trading volume of 5,062,389 shares, compared to its average volume of 6,209,420. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $197.30. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. The firm has a market cap of $49.27 billion, a P/E ratio of -1,021.95, a price-to-earnings-growth ratio of 14.96 and a beta of 1.05. The business's 50 day moving average is $114.90 and its two-hundred day moving average is $92.05.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.37. The company had revenue of $1.77 billion during the quarter, compared to analysts' expectations of $1.66 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%.Atlassian's revenue was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, equities research analysts expect that Atlassian Corporation PLC will post 0.94 EPS for the current year.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently bought and sold shares of the business. California State Teachers Retirement System boosted its position in Atlassian by 7,498.4% during the 2nd quarter. California State Teachers Retirement System now owns 17,767,858 shares of the technology company's stock valued at $1,382,162,000 after acquiring an additional 17,534,021 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Atlassian by 291.4% in the 4th 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 in the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Atlassian by 27.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company's stock worth $343,344,000 after purchasing an additional 1,080,561 shares during the last quarter. Morgan Stanley boosted its position in Atlassian by 52.4% during the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company's stock valued at $781,841,000 after purchasing an additional 1,657,309 shares in the last quarter. Finally, State Street Corp boosted its position in Atlassian by 3.3% during the fourth quarter. State Street Corp now owns 3,995,100 shares of the technology company's stock valued at $647,766,000 after purchasing an additional 127,105 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of research analyst reports. Jefferies Financial Group restated a "buy" rating and issued a $200.00 price target on shares of Atlassian in a report on Friday, August 7th. Bank of America lifted their price objective on shares of Atlassian from $175.00 to $210.00 and gave the company a "buy" rating in a report on Monday. UBS Group boosted their price objective on shares of Atlassian from $95.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Robert W. Baird set a $200.00 target price on shares of Atlassian in a research report on Friday, August 7th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Atlassian in a research note on Monday, June 29th. Twenty-five investment analysts have rated the stock with a Buy rating, four have given 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 target price of $179.93.

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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