Insider Selling: Atlassian Co. (NASDAQ:TEAM) CFO Sells 1,674 Shares of Stock

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

Atlassian Trading Up 3.4 %

Shares of NASDAQ TEAM opened at $253.91 on Friday. The company has a market cap of $66.13 billion, a price-to-earnings ratio of -167.05 and a beta of 0.71. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock’s 50 day simple moving average is $192.77 and its 200 day simple moving average is $175.94.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.07) EPS. Equities research analysts expect that Atlassian Co. will post -0.56 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TEAM shares. JMP Securities raised Atlassian to a “hold” rating in a report on Friday, August 2nd. Canaccord Genuity Group upped their price objective on Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Oppenheimer upped their price objective on Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. KeyCorp raised Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective on the stock in a report on Friday, November 1st. Finally, Raymond James upped their target price on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.21.

Institutional Trading of Atlassian

Several hedge funds have recently added to or reduced their stakes in TEAM. Financial Advocates Investment Management raised its position in shares of Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after purchasing an additional 62 shares during the period. Ameritas Investment Partners Inc. grew its stake in Atlassian by 1.4% in the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after purchasing an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC boosted its stake in shares of Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after acquiring an additional 70 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Atlassian by 2.1% during the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock worth $775,000 after acquiring an additional 80 shares in the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares in the last quarter. Institutional investors own 93.03% 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.