Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Atlassian Corporation shares valued at $1,782,935 were sold by Farquhar Scott on Nov 06 ’24. At $224.32 per share, Farquhar Scott sold 7,948 shares. The insider’s holdings dropped to 294,076 shares worth approximately $68.8 million following the completion of this transaction.
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Also, ATLASSIAN FOUNDATION purchased 15,831 shares, netting a total of over 3,570,999 in proceeds.
Before that, Cannon-Brookes Michael had sold 7,948 shares from its account. In a trade valued at $1,782,937, the CEO, Co-Founder traded Atlassian Corporation shares for $224.33 each. Upon closing the transaction, the insider’s holdings decreased to 7,948 shares, worth approximately $68.8 million.
As published in a research note from KeyBanc Capital Markets on November 01, 2024, Atlassian Corporation [TEAM] has been rated up from a Sector weight to an Overweight and the price target has been revised to $260. Analysts at BMO Capital Markets resumed the stock at ‘”a Market perform”‘ outlook in a report released in early November. As of October 01, 2024, Raymond James has increased its “Mkt perform” rating to a “an Outperform” for TEAM. Earlier on August 02, 2024, Goldman upgraded its rating. Their new recommendation was “a Buy” 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 24.09%. Over the course of the year, Atlassian Corporation shares have dropped approximately -1.64%. 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 $178.16, while a 200-day SMA reached $183.14. Nevertheless, trading volume fell to 2.7 million shares from 2.42 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 227.72, which, if violated, would cause prices to drop to 221.47. In the upper region, resistance lies at 238.24. The next price resistance is at 242.52. RSI (Relative Strength Index) is 80.12 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 24.37, which suggests the price will increase in the coming days. Percent R is at 4.70%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
