Atlassian Corporation PLC (NASDAQ:TEAM – Get Free Report) CRO Brian Duffy sold 7,617 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $163.00, for a total value of $1,241,571.00. Following the sale, the executive owned 220,074 shares of the company’s stock, valued at approximately $35,872,062. This represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Brian Duffy also recently made the following trade(s):
- On Friday, June 12th, Brian Duffy sold 3,000 shares of Atlassian stock. The shares were sold at an average price of $89.71, for a total transaction of $269,130.00.
- On Thursday, June 11th, Brian Duffy sold 1,432 shares of Atlassian stock. The shares were sold at an average price of $88.79, for a total transaction of $127,147.28.
- On Wednesday, June 10th, Brian Duffy sold 1,813 shares of Atlassian stock. The stock was sold at an average price of $92.79, for a total transaction of $168,228.27.
- On Tuesday, June 9th, Brian Duffy sold 1,454 shares of Atlassian stock. The stock was sold at an average price of $95.35, for a total transaction of $138,638.90.
- On Monday, June 8th, Brian Duffy sold 1,451 shares of Atlassian stock. The shares were sold at an average price of $98.03, for a total transaction of $142,241.53.
- On Tuesday, May 19th, Brian Duffy sold 1,986 shares of Atlassian stock. The stock was sold at an average price of $87.75, for a total value of $174,271.50.
Atlassian Stock Performance
Atlassian stock traded down $3.88 during trading on Monday, reaching $158.34. The company had a trading volume of 3,047,567 shares, compared to its average volume of 5,459,537. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $184.00. The firm’s 50-day simple moving average is $99.46 and its 200 day simple moving average is $87.93. The firm has a market capitalization of $40.18 billion, a price-to-earnings ratio of -833.37, a price-to-earnings-growth ratio of 18.33 and a beta of 1.05. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13.
Analysts Set New Price Targets
Several equities analysts have weighed in on TEAM shares. TD Cowen lifted their price target on shares of Atlassian from $105.00 to $145.00 and gave the company a “hold” rating in a report on Friday, August 7th. Morgan Stanley raised their price objective on shares of Atlassian from $120.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a research note on Friday, July 17th. Jefferies Financial Group reiterated a “buy” rating and issued a $200.00 price target on shares of Atlassian in a research note on Friday, August 7th. Finally, Barclays raised their price target on Atlassian from $112.00 to $172.00 and gave the company an “overweight” rating in a report on Monday, August 10th. Twenty-four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.27.
Check Out Our Latest Research Report on TEAM
Hedge Funds Weigh In On Atlassian
Hedge funds and other institutional investors have recently modified their holdings of the stock. MV Capital Management Inc. purchased a new stake in Atlassian in the 4th quarter worth $25,000. Manning & Napier Advisors LLC purchased a new position in shares of Atlassian during the second quarter valued at about $27,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Atlassian by 139.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. Western Wealth Management LLC bought a new stake in shares of Atlassian in the first quarter worth about $30,000. Finally, State of Wyoming lifted its position in shares of Atlassian by 65.7% in the first quarter. State of Wyoming now owns 449 shares of the technology company’s stock worth $31,000 after buying an additional 178 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.
About Atlassian
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.
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