Atlassian Co. (NASDAQ:TEAM) CFO Joseph Leo Binz Sells 1,674 Shares

Atlassian Co. (NASDAQ:TEAM) CFO Joseph Leo Binz sold 1,674 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total transaction of $411,485.94. Following the sale, the chief financial officer now owns 171,929 shares in the company, valued at approximately $42,261,867.49. This trade represents a 0.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Atlassian Stock Performance

Atlassian stock opened at $245.45 on Thursday. The stock has a fifty day moving average of $191.18 and a two-hundred day moving average of $175.45. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The company has a market capitalization of $63.92 billion, a price-to-earnings ratio of -161.48 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating 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 net margin of 8.59% and a negative return on equity of 23.35%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. On average, analysts anticipate that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. raised its position in shares of Atlassian by 1.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after buying an additional 65 shares during the period. O Shaughnessy Asset Management LLC increased its position in Atlassian by 33.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,204 shares of the technology company’s stock worth $820,000 after purchasing an additional 1,062 shares in the last quarter. UniSuper Management Pty Ltd lifted its holdings in shares of Atlassian by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the technology company’s stock valued at $429,000 after acquiring an additional 1,100 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Atlassian during the first quarter worth about $43,000. Finally, Napean Trading & Investment Co Singapore PTE Ltd boosted its holdings in Atlassian by 14.1% in the 1st quarter. Napean Trading & Investment Co Singapore PTE Ltd now owns 40,974 shares of the technology company’s stock worth $7,994,000 after acquiring an additional 5,072 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TEAM. UBS Group increased their price objective on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Piper Sandler increased their price target on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their price objective on Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Raymond James boosted their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial raised their price objective on shares of Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.21.

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.