Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Atlassian Corporation shares valued at $1,615,066 were sold by Cannon-Brookes Michael on Apr 03 ’24. At $195.98 per share, Cannon-Brookes Michael sold 8,241 shares. The insider’s holdings dropped to 490,065 shares worth approximately $94.25 million following the completion of this transaction.
Also, Farquhar Scott sold 8,241 shares, netting a total of over 1,615,066 in proceeds. Following the sale of shares at $195.98 each, the insider now holds 490,065 shares.
Before that, Cannon-Brookes Michael had sold 8,241 shares from its account. In a trade valued at $1,606,454, the Co-CEO, Co-Founder traded Atlassian Corporation shares for $194.93 each. Upon closing the transaction, the insider’s holdings decreased to 8,241 shares, worth approximately $95.83 million.
As published in their initiating research note from KeyBanc Capital Markets on March 19, 2024, Atlassian Corporation [TEAM] has been a Sector weight. Analysts at CapitalOne started covering the stock with ‘”an Equal weight”‘ outlook in a report released in mid December. As of December 01, 2023, Scotiabank has initiated its “Sector perform” rating for TEAM. Earlier on October 02, 2023, UBS initiated its rating. Their recommendation was “a Neutral” for TEAM stock.
Analyzing TEAM Stock Performance
During the last five days, there has been a drop of approximately -0.42%. Over the course of the year, Atlassian Corporation shares have dropped approximately -19.15%. Shares of the company reached a 52-week high of $258.69 on 01/30/24 and a 52-week low of $189.50 on 03/25/24. A 50-day SMA is recorded $210.70, while a 200-day SMA reached $199.50. Nevertheless, trading volume fell to 1.27 million shares from 1.22 million shares the previous day.
Support And Resistance Levels for Atlassian Corporation (TEAM)
According to the 24-hour chart, there is a support level at 190.00, which, if violated, would cause prices to drop to 187.68. In the upper region, resistance lies at 196.93. The next price resistance is at 201.54. RSI (Relative Strength Index) is 39.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.07, which suggests the price will decrease in the coming days. Percent R is at 79.23%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Atlassian Corporation subject to short interest?
Stocks of Atlassian Corporation saw a sharp rise in short interest on Mar 15, 2024 jumping by 50000.0 shares to 4.17 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 4.12 million shares. A jump of 1.2% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.75 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.75.
