Insider Selling: Atlassian Co. (NASDAQ:TEAM) CAO Sells 779 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CAO Gene Liu sold 779 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $320.01, for a total value of $249,287.79. Following the sale, the chief accounting officer now owns 52,710 shares in the company, valued at approximately $16,867,727.10. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Tuesday, November 19th, Gene Liu sold 165 shares of Atlassian stock. The shares were sold at an average price of $245.84, for a total transaction of $40,563.60.
• On Monday, November 11th, Gene Liu sold 785 shares of Atlassian stock. The stock was sold at an average price of $240.00, for a total transaction of $188,400.00.
• On Thursday, November 7th, Gene Liu sold 445 shares of Atlassian stock. The stock was sold at an average price of $230.00, for a total transaction of $102,350.00.

Atlassian Price Performance

Shares of Atlassian stock opened at $311.40 on Tuesday. The firm has a market cap of $81.10 billion, a PE ratio of -232.39 and a beta of 0.87. The company’s fifty day simple moving average is $260.51 and its two-hundred day simple moving average is $208.44. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $324.37.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 18.00%. As a group, equities analysts expect that Atlassian Co. will post -0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TEAM shares. Citigroup boosted their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Macquarie initiated coverage on shares of Atlassian in a research report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective on the stock. Piper Sandler lifted their target price on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group increased their price target on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $318.43.

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in TEAM. Thrivent Financial for Lutherans purchased a new position in Atlassian during the 2nd quarter valued at $677,000. Sanctuary Advisors LLC bought a new stake in shares of Atlassian during the 2nd quarter valued at about $1,022,000. Handelsbanken Fonder AB increased its position in shares of Atlassian by 2.6% during the third quarter. Handelsbanken Fonder AB now owns 69,552 shares of the technology company’s stock valued at $11,046,000 after buying an additional 1,760 shares during the period. GAMMA Investing LLC raised its stake in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its holdings in Atlassian by 100.5% in the third quarter. Azzad Asset Management Inc. ADV now owns 3,451 shares of the technology company’s stock worth $548,000 after buying an additional 1,730 shares during the period. Institutional investors own 94.45% of the company’s stock.

About Atlassian

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.