Atlassian Co. (NASDAQ:TEAM) CAO Sells $230,860.80 in Stock

Atlassian Co. (NASDAQ:TEAM) CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the sale, the chief accounting officer now directly owns 59,168 shares of the company’s stock, valued at $13,339,425.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Atlassian Stock Up 1.8 %

Shares of Atlassian stock opened at $225.57 on Thursday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market cap of $58.65 billion, a price-to-earnings ratio of -148.40 and a beta of 0.71. The firm’s 50-day moving average is $176.79 and its two-hundred day moving average is $171.90.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company posted ($0.07) earnings per share. As a group, research analysts expect that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Morgan Stanley raised their target price on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. KeyCorp upgraded shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target on the stock in a report on Friday, November 1st. Canaccord Genuity Group raised their price objective on shares of Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler boosted their target price on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.16.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Financial Advocates Investment Management grew its stake in Atlassian by 1.7% in the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after purchasing an additional 62 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in shares of Atlassian by 1.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after buying an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC grew its position in shares of Atlassian by 2.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after buying an additional 70 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Atlassian by 0.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 19,544 shares of the technology company’s stock worth $3,813,000 after acquiring an additional 72 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in Atlassian by 2.1% during the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after acquiring an additional 80 shares during the last quarter. 93.03% of the stock is owned by institutional investors.

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.