Free Trial

Atlassian (NASDAQ:TEAM) Reaches New 52-Week Low on Insider Selling

Atlassian logo with Computer and Technology background

Shares of Atlassian Co. (NASDAQ:TEAM - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $153.82 and last traded at $154.53, with a volume of 281914 shares trading hands. The stock had previously closed at $156.62.

Specifically, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $195.12, for a total transaction of $1,607,983.92. Following the completion of the sale, the chief executive officer now owns 49,446 shares in the company, valued at approximately $9,647,903.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $195.12, for a total transaction of $1,607,983.92. Following the completion of the sale, the chief executive officer now owns 49,446 shares in the company, valued at approximately $9,647,903.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott Farquhar sold 7,948 shares of the firm's stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $162.20, for a total transaction of $1,289,165.60. Following the completion of the sale, the chief executive officer now owns 103,324 shares of the company's stock, valued at approximately $16,759,152.80. The disclosure for this sale can be found here. Insiders sold 288,800 shares of company stock worth $52,722,564 in the last quarter. 40.48% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on TEAM shares. Robert W. Baird lowered their price objective on shares of Atlassian from $270.00 to $230.00 and set an "outperform" rating for the company in a research report on Friday, April 26th. Barclays upgraded shares of Atlassian from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Truist Financial lowered their price target on shares of Atlassian from $220.00 to $200.00 and set a "hold" rating for the company in a research report on Friday, April 26th. Oppenheimer lowered their price target on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, April 26th. Finally, TD Cowen lowered their price target on shares of Atlassian from $220.00 to $210.00 and set a "hold" rating for the company in a research report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $223.22.


Get Our Latest Stock Report on Atlassian

Atlassian Stock Performance

The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The stock's 50 day simple moving average is $177.56 and its two-hundred day simple moving average is $203.15. The stock has a market cap of $39.87 billion, a P/E ratio of -243.14 and a beta of 0.73.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the firm posted ($0.40) earnings per share. The business's revenue was up 29.9% on a year-over-year basis. As a group, research analysts forecast that Atlassian Co. will post -0.23 EPS for the current year.

Institutional Trading of Atlassian

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Atlassian by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company's stock worth $3,039,287,000 after purchasing an additional 221,650 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company's stock worth $2,173,847,000 after purchasing an additional 904,138 shares in the last quarter. WCM Investment Management LLC increased its holdings in Atlassian by 2.7% during the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company's stock worth $2,325,490,000 after buying an additional 249,017 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Atlassian by 20.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company's stock worth $2,094,980,000 after buying an additional 1,511,318 shares during the last quarter. Finally, Brown Advisory Inc. increased its holdings in Atlassian by 7.9% during the fourth quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company's stock worth $826,113,000 after buying an additional 255,653 shares during the last quarter. Institutional investors own 93.03% of the company's stock.

About Atlassian

(Get Free Report)

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.

Featured Articles

Should you invest $1,000 in Atlassian right now?

Before you consider Atlassian, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Atlassian wasn't on the list.

While Atlassian currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The Best High-Yield Dividend Stocks for 2024 Cover

Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

CPI News Breakdown: Key Market Moves to Follow
Understanding Oversold Stocks
Inside Pelosi’s Latest Stock Moves

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines