Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,407,352.36 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $177.07, for a total value of $1,407,352.36. Following the completion of the transaction, the chief executive officer now directly owns 333,816 shares in the company, valued at approximately $59,108,799.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Michael Cannon-Brookes also recently made the following trade(s):

• On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.65, for a total value of $1,411,962.20.
• On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $169.47, for a total value of $1,346,947.56.
• On Monday, July 22nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $175.95, for a total value of $1,398,450.60.
• On Wednesday, July 17th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $180.42, for a total value of $1,433,978.16.
• On Monday, July 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $180.11, for a total value of $1,431,514.28.
• On Wednesday, July 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $173.13, for a total value of $1,376,037.24.
• On Monday, July 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $182.56, for a total value of $1,450,986.88.
• On Wednesday, June 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $170.45, for a total value of $1,354,736.60.
• On Monday, June 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.95, for a total value of $1,303,074.60.
• On Friday, June 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $159.43, for a total value of $1,267,149.64.

Atlassian Trading Down 17.1 %

Atlassian stock opened at $143.68 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 52 week low of $141.21 and a 52 week high of $258.69. The company has a market capitalization of $37.40 billion, a price-to-earnings ratio of -228.06 and a beta of 0.74. The stock has a 50-day moving average price of $169.60 and a 200 day moving average price of $191.43.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 18.13% and a negative net margin of 6.89%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Sell-side analysts anticipate that Atlassian Co. will post -0.23 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Scotiabank decreased their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday. Oppenheimer decreased their price objective on Atlassian from $250.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday. Mizuho decreased their price objective on Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Citigroup decreased their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Finally, Canaccord Genuity Group decreased their price objective on Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $219.25.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TEAM. Raymond James Financial Services Advisors Inc. raised its position in Atlassian by 0.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 18,278 shares of the technology company’s stock valued at $4,348,000 after acquiring an additional 62 shares in the last quarter. Global Retirement Partners LLC raised its position in Atlassian by 8.6% during the fourth quarter. Global Retirement Partners LLC now owns 946 shares of the technology company’s stock valued at $228,000 after acquiring an additional 75 shares in the last quarter. Stonegate Investment Group LLC raised its position in Atlassian by 2.6% during the fourth quarter. Stonegate Investment Group LLC now owns 7,274 shares of the technology company’s stock valued at $1,730,000 after acquiring an additional 186 shares in the last quarter. UMB Bank n.a. increased its position in shares of Atlassian by 5.7% in the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock valued at $248,000 after buying an additional 56 shares in the last quarter. Finally, Lewis Asset Management LLC purchased a new stake in shares of Atlassian in the fourth quarter valued at approximately $2,373,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

About Atlassian

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.