Atlassian Corporation PLC (NASDAQ:TEAM – Get Free Report) CRO Brian Duffy sold 1,454 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $95.35, for a total value of $138,638.90. Following the completion of the sale, the executive owned 233,936 shares of the company’s stock, valued at approximately $22,305,797.60. This trade represents a 0.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Brian Duffy also recently made the following trade(s):
- On Monday, June 8th, Brian Duffy sold 1,451 shares of Atlassian stock. The stock was sold at an average price of $98.03, for a total value 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 transaction of $174,271.50.
Atlassian Stock Performance
TEAM stock traded down $2.28 on Tuesday, reaching $95.61. 3,420,937 shares of the company were exchanged, compared to its average volume of 6,998,851. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $222.59. The stock’s fifty day moving average price is $79.55 and its 200 day moving average price is $105.82. The firm has a market capitalization of $24.26 billion, a PE ratio of -115.19, a PEG ratio of 5.64 and a beta of 1.07. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70.
Analysts Set New Price Targets
Several research firms have issued reports on TEAM. Raymond James Financial set a $130.00 price objective on Atlassian in a research note on Friday, May 1st. Citigroup dropped their price objective on Atlassian from $160.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Guggenheim set a $115.00 target price on Atlassian in a report on Thursday, April 9th. Wells Fargo & Company lowered their target price on Atlassian from $155.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, March 17th. Finally, Wolfe Research reiterated an “outperform” rating and set a $100.00 price target on shares of Atlassian in a research report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $145.63.
Read Our Latest Research Report on Atlassian
Institutional Trading of Atlassian
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. AQR Capital Management LLC increased its position in Atlassian by 291.4% in the fourth quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock worth $1,256,535,000 after purchasing an additional 5,769,788 shares during the period. DNB Asset Management AS increased its position in Atlassian by 266.6% in the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after purchasing an additional 2,041,210 shares during the period. Norges Bank acquired a new stake in Atlassian in the fourth quarter worth about $323,526,000. Morgan Stanley increased its position in Atlassian by 52.4% in the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after purchasing an additional 1,657,309 shares during the period. Finally, KBC Group NV increased its position in Atlassian by 1,691.2% in the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after purchasing an additional 1,359,624 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.
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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