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 Atlassian stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $188.64, for a total value of $1,499,310.72. Following the sale, the chief executive officer now directly owns 349,712 shares in the company, valued at $65,969,671.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $189.75, for a total transaction of $1,508,133.00.
• On Wednesday, October 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.56, for a total value of $1,498,674.88.
• On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.18, for a total value of $1,527,446.64.
• On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.16, for a total transaction of $1,527,287.68.
• On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $193.70, for a total value of $1,539,527.60.
• On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $187.54, for a total transaction of $1,490,567.92.
• On Wednesday, October 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $176.27, for a total transaction of $1,400,993.96.
• On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $159.81, for a total transaction of $1,270,169.88.
• On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.30, for a total transaction of $1,282,012.40.
• On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.98, for a total transaction of $1,287,417.04.

Atlassian Trading Up 1.6 %

NASDAQ TEAM traded up $3.08 on Tuesday, reaching $191.74. The stock had a trading volume of 1,828,350 shares, compared to its average volume of 1,777,985. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The firm has a market capitalization of $49.91 billion, a price-to-earnings ratio of -304.35 and a beta of 0.73. The stock has a fifty day moving average price of $170.01 and a two-hundred day moving average price of $171.08.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the business posted ($0.21) EPS. The business’s revenue was up 20.5% on a year-over-year basis. As a group, sell-side analysts forecast that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TEAM shares. JMP Securities raised shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Scotiabank cut their target price on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Oppenheimer reiterated an “outperform” rating and set a $230.00 target price on shares of Atlassian in a research note on Monday, September 23rd. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price for the company in a report on Thursday, July 11th. Finally, Barclays lowered their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $212.47.

Institutional Investors Weigh In On Atlassian

Institutional investors have recently bought and sold shares of the company. Dragoneer Investment Group LLC bought a new stake in Atlassian in the second quarter valued at approximately $469,803,000. Price T Rowe Associates Inc. MD grew its holdings in Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares during the period. Manning & Napier Advisors LLC bought a new position in Atlassian during the second quarter valued at approximately $91,072,000. Quadrature Capital Ltd purchased a new stake in shares of Atlassian in the first quarter worth $55,307,000. Finally, Swedbank AB purchased a new stake in Atlassian during the first quarter valued at $50,923,000. Institutional investors own 93.03% of the company’s stock.

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.