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 Friday, October 11th. The stock was sold at an average price of $187.54, for a total transaction of $1,490,567.92. Following the sale, the chief executive officer now owns 437,140 shares of the company’s stock, valued at $81,981,235.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• 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 value 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 value of $1,270,169.88.
• On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total value 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 value of $1,287,417.04.
• On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.27, for a total transaction of $1,289,721.96.
• On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.56, for a total transaction of $1,299,974.88.
• On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $165.03, for a total transaction of $1,311,658.44.
• On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $160.97, for a total value of $1,279,389.56.
• On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $166.36, for a total value of $1,322,229.28.
• On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $156.92, for a total value of $1,247,200.16.

Atlassian Stock Performance

Atlassian stock opened at $187.06 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The stock has a fifty day moving average of $158.96 and a two-hundred day moving average of $172.04. The company has a market capitalization of $48.64 billion, a price-to-earnings ratio of -161.26 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data 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 analysts’ expectations of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. On average, analysts anticipate that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, June 21st. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Robert W. Baird downgraded shares of Atlassian from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $230.00 to $175.00 in a report on Friday, August 2nd. Scotiabank lowered 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 report on Friday, August 2nd. Finally, Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $216.29.

Hedge Funds Weigh In On Atlassian

Institutional investors have recently modified their holdings of the company. Brown Capital Management LLC raised its holdings in Atlassian by 2.2% in the 4th quarter. Brown Capital Management LLC now owns 115,482 shares of the technology company’s stock valued at $27,469,000 after acquiring an additional 2,535 shares during the last quarter. Parkwood LLC acquired a new position in Atlassian in the fourth quarter valued at $3,793,000. Profund Advisors LLC lifted its position in Atlassian by 15.9% during the fourth quarter. Profund Advisors LLC now owns 21,117 shares of the technology company’s stock worth $5,023,000 after buying an additional 2,894 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Atlassian by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock worth $2,435,095,000 after buying an additional 326,673 shares during the last quarter. Finally, American International Group Inc. grew its holdings in Atlassian by 3.1% in the 4th quarter. American International Group Inc. now owns 10,772 shares of the technology company’s stock valued at $2,562,000 after buying an additional 328 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.