The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Atlassian Corporation shares valued at $1,474,601 were sold by Cannon-Brookes Michael on May 08 ’24. At $178.93 per share, Cannon-Brookes Michael sold 8,241 shares. The insider’s holdings dropped to 284,040 shares worth approximately $51.08 million following the completion of this transaction.
Also, Farquhar Scott sold 8,241 shares, netting a total of over 1,474,599 in proceeds. Following the sale of shares at $178.93 each, the insider now holds 284,040 shares.
Before that, Cannon-Brookes Michael had sold 8,241 shares from its account. In a trade valued at $1,511,930, the Co-CEO, Co-Founder traded Atlassian Corporation shares for $183.46 each. Upon closing the transaction, the insider’s holdings decreased to 8,241 shares, worth approximately $52.57 million.
As published in a research note from Barclays on April 11, 2024, Atlassian Corporation [TEAM] has been rated up from an Equal weight to an Overweight and the price target has been revised to $275. Analysts at KeyBanc Capital Markets started covering the stock with ‘”a Sector weight”‘ outlook in a report released in mid March. As of December 18, 2023, CapitalOne has initiated its “an Equal weight” rating for TEAM. Earlier on December 01, 2023, Scotiabank initiated its rating. Their recommendation was “a Sector perform” for TEAM stock.
Analyzing TEAM Stock Performance
During the last five days, there has been a drop of approximately -2.02%. Over the course of the year, Atlassian Corporation shares have dropped approximately -24.39%. Shares of the company reached a 52-week high of $258.69 on 01/30/24 and a 52-week low of $168.20 on 05/01/24. A 50-day SMA is recorded $195.46, while a 200-day SMA reached $201.85. Nevertheless, trading volume fell to 0.78 million shares from 1.35 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 178.30, which, if violated, would cause prices to drop to 176.76. In the upper region, resistance lies at 181.68. The next price resistance is at 183.52. RSI (Relative Strength Index) is 41.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.74, which suggests the price will decrease in the coming days. Percent R is at 65.58%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
