Cameron Deatsch Sells 4,434 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM – Get Rating) CRO Cameron Deatsch sold 4,434 shares of the business’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $146.11, for a total value of $647,851.74. Following the sale, the executive now owns 119,657 shares of the company’s stock, valued at approximately $17,483,084.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, May 15th, Cameron Deatsch sold 1,265 shares of Atlassian stock. The stock was sold at an average price of $142.52, for a total value of $180,287.80.
• On Tuesday, February 21st, Cameron Deatsch sold 3,957 shares of Atlassian stock. The stock was sold at an average price of $164.83, for a total value of $652,232.31.

Atlassian Stock Up 7.7 %

TEAM stock opened at $158.38 on Tuesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.31 and a quick ratio of 1.31. The stock has a market capitalization of $40.71 billion, a P/E ratio of -76.51 and a beta of 0.82. The business has a 50-day moving average of $153.01 and a 200-day moving average of $149.20. Atlassian Co. has a fifty-two week low of $113.86 and a fifty-two week high of $300.29.

Atlassian (NASDAQ:TEAM – Get Rating) last issued its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.15). Atlassian had a negative net margin of 15.89% and a negative return on equity of 79.71%. The company had revenue of $915.45 million for the quarter, compared to analyst estimates of $898.71 million. On average, sell-side analysts anticipate that Atlassian Co. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on Atlassian in a report on Thursday, May 18th. They issued a “hold” rating for the company. Piper Sandler dropped their price objective on Atlassian from $160.00 to $140.00 in a report on Friday, May 5th. Barclays dropped their price objective on Atlassian from $155.00 to $130.00 in a report on Sunday, May 7th. KeyCorp upped their price objective on Atlassian from $174.00 to $187.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Finally, BMO Capital Markets dropped their price objective on Atlassian from $190.00 to $155.00 in a report on Friday, May 5th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $197.74.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Guinness Atkinson Asset Management Inc acquired a new position in Atlassian during the fourth quarter valued at approximately $30,000. Meeder Asset Management Inc. raised its stake in Atlassian by 151.5% in the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after buying an additional 147 shares during the period. Carmel Capital Partners LLC bought a new stake in Atlassian in the first quarter valued at approximately $34,000. Sonnipe Ltd bought a new stake in Atlassian in the fourth quarter valued at approximately $36,000. Finally, CoreCap Advisors LLC bought a new stake in Atlassian in the fourth quarter valued at approximately $39,000. 45.50% of the stock is owned by institutional investors and hedge funds.

About Atlassian

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.