Atlassian Co. Plc (NASDAQ:TEAM – Get Rating) shares gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $206.04, but opened at $198.00. Atlassian shares last traded at $196.53, with a volume of 39,817 shares changing hands. Specifically, CEO Michael Cannon-Brookes sold 8,614 shares of the business’s stock in a transaction on Monday, October 24th. The shares were sold at an average price of $192.51, for a total transaction of $1,658,281.14. Following the sale, the chief executive officer now directly owns 404,858 shares of the company’s stock, valued at $77,939,213.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 77,526 shares of company stock valued at $16,203,192. 43.11% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on TEAM. Morgan Stanley decreased their target price on shares of Atlassian from $430.00 to $375.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Piper Sandler boosted their target price on shares of Atlassian from $249.00 to $283.00 and gave the company an “overweight” rating in a research report on Friday, August 5th. Wolfe Research boosted their target price on shares of Atlassian from $240.00 to $290.00 and gave the company an “outperform” rating in a research report on Monday, August 8th. Robert W. Baird decreased their target price on shares of Atlassian from $520.00 to $380.00 and set an “outperform” rating for the company in a research report on Friday, August 5th. Finally, KeyCorp decreased their price objective on shares of Atlassian from $338.00 to $278.00 and set an “overweight” rating for the company in a research report on Friday, July 22nd. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $322.42.
Atlassian Stock Down 4.4 %
The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $50.19 billion, a price-to-earnings ratio of -81.74 and a beta of 1.00. The firm’s 50 day simple moving average is $231.98 and its 200-day simple moving average is $218.56.
Atlassian (NASDAQ:TEAM – Get Rating) last announced its quarterly earnings data on Thursday, August 4th. The technology company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.13). The firm had revenue of $759.80 million during the quarter, compared to analyst estimates of $724.28 million. Atlassian had a negative net margin of 21.91% and a negative return on equity of 98.61%. The business’s quarterly revenue was up 35.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) earnings per share. On average, sell-side analysts anticipate that Atlassian Co. Plc will post -0.92 EPS for the current fiscal year.
Institutional Investors Weigh In On Atlassian
Several institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of Atlassian by 8.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 22,693,727 shares of the technology company’s stock worth $4,252,805,000 after purchasing an additional 1,803,544 shares in the last quarter. Sands Capital Management LLC boosted its position in shares of Atlassian by 6.5% in the 2nd quarter. Sands Capital Management LLC now owns 6,504,421 shares of the technology company’s stock worth $1,218,928,000 after buying an additional 397,595 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of Atlassian by 75.2% in the 3rd quarter. WCM Investment Management LLC now owns 5,879,895 shares of the technology company’s stock worth $1,248,478,000 after buying an additional 2,523,053 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Atlassian by 34.1% in the 2nd quarter. Artisan Partners Limited Partnership now owns 5,199,365 shares of the technology company’s stock worth $974,361,000 after buying an additional 1,321,817 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Atlassian by 4.0% in the 2nd quarter. Franklin Resources Inc. now owns 2,496,881 shares of the technology company’s stock worth $467,915,000 after buying an additional 96,594 shares in the last quarter. 87.29% of the stock is currently owned by hedge funds and other institutional investors.
Atlassian Company Profile
Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.