Insider Selling: Atlassian Co. (NASDAQ:TEAM) CRO Sells $607,737.87 in Stock

Atlassian Co. (NASDAQ:TEAM) CRO Cameron Deatsch sold 3,411 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $178.17, for a total value of $607,737.87. Following the completion of the transaction, the executive now directly owns 133,877 shares of the company’s stock, valued at approximately $23,852,865.09. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Cameron Deatsch also recently made the following trade(s):

• On Wednesday, September 27th, Cameron Deatsch sold 3,411 shares of Atlassian stock. The stock was sold at an average price of $196.92, for a total value of $671,694.12.
• On Wednesday, September 20th, Cameron Deatsch sold 3,411 shares of Atlassian stock. The stock was sold at an average price of $204.14, for a total value of $696,321.54.
• On Wednesday, September 13th, Cameron Deatsch sold 3,411 shares of Atlassian stock. The shares were sold at an average price of $209.73, for a total value of $715,389.03.
• On Tuesday, August 29th, Cameron Deatsch sold 5,484 shares of Atlassian stock. The shares were sold at an average price of $197.28, for a total value of $1,081,883.52.
• On Monday, August 21st, Cameron Deatsch sold 4,441 shares of Atlassian stock. The shares were sold at an average price of $184.35, for a total value of $818,698.35.
• On Monday, August 14th, Cameron Deatsch sold 1,276 shares of Atlassian stock. The shares were sold at an average price of $199.99, for a total value of $255,187.24.

Atlassian Stock Down 2.5 %

Shares of NASDAQ TEAM opened at $176.90 on Friday. The stock has a market cap of $45.53 billion, a P/E ratio of -90.25 and a beta of 0.64. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.47. Atlassian Co. has a 12-month low of $113.86 and a 12-month high of $215.77. The business’s fifty day simple moving average is $195.52 and its 200-day simple moving average is $178.55.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.04. The business had revenue of $939.10 million for the quarter, compared to analysts’ expectations of $911.23 million. Atlassian had a negative return on equity of 61.15% and a negative net margin of 13.77%. As a group, equities analysts predict that Atlassian Co. will post -0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TEAM. KeyCorp upped their price target on Atlassian from $175.00 to $205.00 in a research report on Tuesday, July 18th. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a report on Friday. Citigroup upped their price objective on Atlassian from $195.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, August 29th. Mizuho reiterated a “buy” rating and issued a $240.00 price objective on shares of Atlassian in a report on Tuesday, September 19th. Finally, Piper Sandler decreased their price objective on Atlassian from $200.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $202.19.

Institutional Trading of Atlassian

Several hedge funds have recently modified their holdings of TEAM. OFI Invest Asset Management purchased a new position in Atlassian in the third quarter valued at $26,000. Andesa Financial Management Inc. purchased a new position in Atlassian in the first quarter valued at $233,000. Hall Laurie J Trustee purchased a new position in Atlassian in the second quarter valued at $28,000. Financial Gravity Asset Management Inc. purchased a new position in Atlassian in the second quarter valued at $41,000. Finally, Tyler Stone Wealth Management purchased a new position in Atlassian in the second quarter valued at $34,000. 53.36% of the stock is currently owned by institutional investors and hedge funds.

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.