James Chuong Sells 8,838 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CFO James Chuong sold 8,838 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the transaction, the chief financial officer owned 288,272 shares of the company’s stock, valued at $25,295,868. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $85.42 on Friday. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $222.59. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The business has a fifty day moving average price of $73.81 and a 200-day moving average price of $110.68. The company has a market capitalization of $21.68 billion, a PE ratio of -102.92, a PEG ratio of 4.66 and a beta of 0.90.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company earned $0.97 earnings per share. The company’s revenue was up 31.7% on a year-over-year basis. As a group, equities analysts expect that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TEAM has been the subject of several analyst reports. Morgan Stanley reduced their price target on Atlassian from $290.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, April 16th. Cantor Fitzgerald raised their price target on Atlassian from $98.00 to $107.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Piper Sandler reduced their price target on Atlassian from $200.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a report on Monday, April 20th. Finally, Wall Street Zen upgraded Atlassian from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.63.

Institutional Investors Weigh In On Atlassian

Several large investors have recently bought and sold shares of the business. Physician Wealth Advisors Inc. increased its holdings in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after buying an additional 61 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Atlassian by 12.0% during the 4th quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock valued at $100,000 after purchasing an additional 66 shares during the period. Snowden Capital Advisors LLC grew its stake in shares of Atlassian by 1.6% during the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after purchasing an additional 71 shares during the period. Financial Perspectives Inc grew its stake in shares of Atlassian by 11.7% during the 4th quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock valued at $116,000 after purchasing an additional 75 shares during the period. Finally, ABN Amro Investment Solutions grew its stake in shares of Atlassian by 3.4% during the 3rd quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock valued at $392,000 after purchasing an additional 80 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.