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 $1,945,783 were sold by Farquhar Scott on Nov 20 ’24. At $244.81 per share, Farquhar Scott sold 7,948 shares. The insider’s holdings dropped to 214,596 shares worth approximately $54.5 million following the completion of this transaction.
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Also, Cannon-Brookes Michael sold 7,948 shares, netting a total of over 1,945,784 in proceeds. Following the sale of shares at $244.81 each, the insider now holds 214,596 shares.
Before that, RAJEEV RAJAN had added 3,504 shares to its account. In a trade valued at $860,057, the Officer bought Atlassian Corporation shares for $245.45 each.
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 1.59%. Over the course of the year, Atlassian Corporation shares have jumped approximately 6.77%. 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 $194.53, while a 200-day SMA reached $183.61. Nevertheless, trading volume fell to 2.14 million shares from 1.52 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 248.32, which, if violated, would cause prices to drop to 242.68. In the upper region, resistance lies at 257.74. The next price resistance is at 261.52. RSI (Relative Strength Index) is 73.53 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.22, which suggests the price will increase in the coming days. Percent R is at 5.83%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
