Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Atlassian Corporation shares valued at $1,286,197 were sold by Cannon-Brookes Michael on Aug 28 ’24. At $161.83 per share, Cannon-Brookes Michael sold 7,948 shares. The insider’s holdings dropped to 174,856 shares worth approximately $29.28 million following the completion of this transaction.
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Also, Farquhar Scott sold 7,948 shares, netting a total of over 1,286,196 in proceeds. Following the sale of shares at $161.83 each, the insider now holds 174,856 shares.
Before that, Farquhar Scott had sold 7,948 shares from its account. In a trade valued at $1,309,884, the Co-CEO, Co-Founder traded Atlassian Corporation shares for $164.81 each. Upon closing the transaction, the insider’s holdings decreased to 7,948 shares, worth approximately $30.61 million.
As published in a research note from Goldman on August 02, 2024, Atlassian Corporation [TEAM] has been rated up from a Neutral to a Buy and the price target has been revised to $230 from $200. Analysts at Robert W. Baird downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in early August. As of July 11, 2024, CapitalOne has increased its “an Equal weight” rating to a “an Overweight” for TEAM. Earlier on July 02, 2024, Piper Sandler upgraded its rating. Their new recommendation was “an Overweight” for TEAM stock which previously was a “a Neutral”.
Analyzing TEAM Stock Performance
During the last five days, there has been a surge of approximately 7.43%. Over the course of the year, Atlassian Corporation shares have dropped approximately -29.60%. Shares of the company reached a 52-week high of $258.69 on 01/30/24 and a 52-week low of $135.29 on 08/05/24. A 50-day SMA is recorded $165.77, while a 200-day SMA reached $192.26. Nevertheless, trading volume fell to 1.2 million shares from 1.59 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 163.85, which, if violated, would cause prices to drop to 160.24. In the upper region, resistance lies at 170.39. The next price resistance is at 173.32. RSI (Relative Strength Index) is 58.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.10, which suggests the price will increase in the coming days. Percent R is at 7.45%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
