Joseph Leo Binz Sells 1,674 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CFO Joseph Leo Binz sold 1,674 shares of Atlassian stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $245.81, for a total value of $411,485.94. Following the completion of the transaction, the chief financial officer now directly owns 171,929 shares of the company’s stock, valued at approximately $42,261,867.49. This represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $253.91 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The stock has a 50 day moving average of $192.77 and a two-hundred day moving average of $175.94. The stock has a market cap of $66.13 billion, a P/E ratio of -167.05 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, research analysts forecast that Atlassian Co. will post -0.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

TEAM has been the subject of several research reports. Wells Fargo & Company lifted their target price on Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Mizuho boosted their price objective on Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Barclays lowered their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Raymond James boosted their price objective on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Piper Sandler boosted their price objective on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its holdings in shares of Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares during the period. Impax Asset Management Group plc increased its holdings in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after purchasing an additional 31,986 shares during the period. Parnassus Investments LLC increased its holdings in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after purchasing an additional 245,286 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Atlassian in the third quarter valued at approximately $97,350,000. Finally, Aigen Investment Management LP acquired a new position in shares of Atlassian in the third quarter valued at approximately $2,232,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Company Profile

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.