Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells 7,948 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $254.95, for a total transaction of $2,026,342.60. Following the completion of the sale, the chief executive officer now owns 460,984 shares of the company’s stock, valued at $117,527,870.80. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $246.97, for a total value of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.45, for a total value of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.25, for a total transaction of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.22, for a total transaction of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.13, for a total transaction of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.20, for a total transaction of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.79, for a total transaction of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.32, for a total value of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $261.73, for a total value of $2,080,230.04.

Atlassian Price Performance

Shares of TEAM stock traded down $6.78 during trading hours on Tuesday, hitting $247.85. The company’s stock had a trading volume of 1,599,275 shares, compared to its average volume of 2,101,836. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The business has a fifty day moving average of $250.65 and a 200-day moving average of $197.58. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97. The stock has a market cap of $64.55 billion, a price-to-earnings ratio of -163.06 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the business posted ($0.07) earnings per share. Atlassian’s revenue was up 21.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Atlassian Co. will post -0.54 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Diversified Trust Co lifted its stake in shares of Atlassian by 23.2% in the 4th quarter. Diversified Trust Co now owns 14,881 shares of the technology company’s stock valued at $3,622,000 after purchasing an additional 2,799 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Atlassian by 20.1% in the 4th quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company’s stock worth $7,458,000 after buying an additional 5,088 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Atlassian during the 4th quarter worth approximately $1,185,000. GAMMA Investing LLC increased its stake in shares of Atlassian by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after buying an additional 54 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after purchasing an additional 131,621 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Oppenheimer lifted their price target on shares of Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday. Mizuho upped their price objective on shares of Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Scotiabank lifted their target price on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets boosted their target price on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $264.25.

Atlassian Company Profile

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.