Insider Selling: Atlassian (NASDAQ:TEAM) CAO Sells $70,770.00 in Stock

Key Points

• Atlassian CAO Gene Liu sold 337 shares at $210 each, totaling $70,770 and reducing his ownership by 0.60%; he retained 55,531 shares worth approximately $11.66 million.
• Atlassian shares traded near their 52-week high at $208.04, up 0.1%, with revenue rising 27.6% year over year and quarterly EPS of $1.87 exceeding estimates of $1.50.
• Wall Street remains broadly positive, with 25 Buy ratings, four Holds and one Sell; the stock has a “Moderate Buy” consensus rating and an average price target of $194.15.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CAO Gene Liu sold 337 shares of the firm's stock in a transaction on Monday, October 12th. The shares were sold at an average price of $210.00, for a total value of $70,770.00. Following the completion of the sale, the chief accounting officer owned 55,531 shares of the company's stock, valued at approximately $11,661,510. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, August 28th, Gene Liu sold 939 shares of Atlassian stock. The stock was sold at an average price of $190.00, for a total transaction of $178,410.00.
• 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 stock was 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 stock was sold at an average price of $165.00, for a total value of $121,605.00.

Atlassian Trading Up 0.1%

Shares of NASDAQ:TEAM traded up $0.29 during trading on Tuesday, hitting $208.04. 2,608,178 shares of the company's stock were exchanged, compared to its average volume of 5,713,775. The firm has a 50-day moving average price of $177.70 and a two-hundred day moving average price of $116.47. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $214.77. The firm has a market cap of $52.79 billion, a P/E ratio of -1,094.95, a PEG ratio of 16.25 and a beta of 1.22. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.37. The business 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%. The firm's quarterly revenue was up 27.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. Equities analysts predict that Atlassian Corporation PLC will post 0.94 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of Atlassian from $170.00 to $225.00 and gave the stock a "buy" rating in a research note on Tuesday, September 1st. BTIG Research upped their target price on Atlassian from $180.00 to $230.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. KeyCorp upped their price target on shares of Atlassian from $115.00 to $185.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Cantor Fitzgerald raised their price objective on Atlassian from $175.00 to $220.00 and gave the company an "overweight" rating in a research note on Monday, September 21st. Finally, Jefferies Financial Group restated a "buy" rating and issued a $200.00 price target on shares of Atlassian in a research note on Friday, August 7th. Twenty-five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of "Moderate Buy" and an average target price of $194.15.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently bought and sold shares of TEAM. MV Capital Management Inc. bought a new stake in Atlassian in the fourth quarter valued at $25,000. 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 during the period. CX Institutional raised its holdings in Atlassian by 18.0% in the third quarter. CX Institutional now owns 1,248 shares of the technology company's stock worth $224,000 after purchasing an additional 190 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Atlassian by 139.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company's stock worth $29,000 after purchasing an additional 220 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Atlassian by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,448 shares of the technology company's stock valued at $260,000 after buying an additional 231 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

About Atlassian

Atlassian Corporation develops collaboration, productivity and workflow-management software for technology, business and enterprise teams. Its products are designed to help organizations plan projects, manage software development, document and share knowledge, provide IT and customer support, and coordinate work across distributed teams.

Its product portfolio includes Jira for project and issue management, Confluence for team collaboration and knowledge sharing, Jira Service Management for IT service and support operations, and Trello for organizing tasks and projects.

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