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 $1,530,503 were sold by Cannon-Brookes Michael on Oct 30 ’24. At $192.56 per share, Cannon-Brookes Michael sold 7,948 shares. The insider’s holdings dropped to 333,816 shares worth approximately $62.94 million following the completion of this transaction.
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Also, Farquhar Scott sold 7,948 shares, netting a total of over 1,530,502 in proceeds. Following the sale of shares at $192.56 each, the insider now holds 333,816 shares.
Before that, Cannon-Brookes Michael had sold 7,948 shares from its account. In a trade valued at $1,524,625, the CEO, Co-Founder traded Atlassian Corporation shares for $191.82 each. Upon closing the transaction, the insider’s holdings decreased to 7,948 shares, worth approximately $64.44 million.
As published in a research note from Raymond James on October 01, 2024, Atlassian Corporation [TEAM] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $200. Analysts at Goldman upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early August. As of August 02, 2024, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for TEAM. Earlier on July 11, 2024, CapitalOne upgraded its rating. Their new recommendation was “an Overweight” for TEAM stock which previously was a “an Equal weight”.
Analyzing TEAM Stock Performance
During the last five days, there has been a drop of approximately -0.43%. Over the course of the year, Atlassian Corporation shares have dropped approximately -20.73%. 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 $171.82, while a 200-day SMA reached $183.62. Nevertheless, trading volume fell to 3.54 million shares from 1.98 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 187.01, which, if violated, would cause prices to drop to 185.47. In the upper region, resistance lies at 190.71. The next price resistance is at 192.87. RSI (Relative Strength Index) is 60.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.29, which suggests the price will decrease in the coming days. Percent R is at 76.11%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
