Atlassian Co. (NASDAQ:TEAM) CFO Sells $807,376.83 in Stock

Atlassian Co. (NASDAQ:TEAM - Get Free Report) CFO Joseph Leo Binz sold 2,587 shares of the business's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $312.09, for a total value of $807,376.83. Following the sale, the chief financial officer now directly owns 169,342 shares in the company, valued at $52,849,944.78. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Joseph Leo Binz also recently made the following trade(s):

• On Tuesday, November 19th, Joseph Leo Binz sold 1,674 shares of Atlassian stock. The stock was sold at an average price of $245.81, for a total transaction of $411,485.94.

Atlassian Trading Up 0.7 %

TEAM traded up $2.34 during mid-day trading on Tuesday, reaching $315.44. The stock had a trading volume of 2,265,744 shares, compared to its average volume of 2,068,581. The firm's fifty day simple moving average is $270.89 and its two-hundred day simple moving average is $219.37. The stock has a market capitalization of $82.65 billion, a P/E ratio of -235.40 and a beta of 0.87. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.18 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price objective on shares of Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Citigroup upped their price target on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. UBS Group raised their price objective on Atlassian from $275.00 to $330.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Canaccord Genuity Group increased their price target on shares of Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. Finally, Piper Sandler boosted their price target on shares of Atlassian from $310.00 to $365.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $319.71.

Hedge Funds Weigh In On Atlassian

Several large investors have recently bought and sold shares of TEAM. Baillie Gifford & Co. raised its position in shares of Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company's stock valued at $1,352,115,000 after acquiring an additional 78,454 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares during the period. State Street Corp increased its holdings in Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company's stock valued at $565,424,000 after purchasing an additional 8,957 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Atlassian in the fourth quarter valued at about $687,486,000. Finally, Invesco Ltd. boosted its holdings in Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after buying an additional 1,777,179 shares during the last quarter. 94.45% 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.