Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,808,567.40 in Stock

Atlassian Co. (NASDAQ:TEAMGet Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $227.55, for a total transaction of $1,808,567.40. Following the completion of the transaction, the chief executive officer now directly owns 103,324 shares of the company’s stock, valued at approximately $23,511,376.20. The trade was a 7.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

  • On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $259.69, for a total transaction of $2,064,016.12.
  • On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $297.51, for a total transaction of $2,364,609.48.
  • On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $313.95, for a total transaction of $2,495,274.60.
  • On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.90, for a total transaction of $2,478,981.20.
  • On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.74, for a total transaction of $2,509,501.52.
  • On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $322.31, for a total transaction of $2,561,719.88.
  • On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $318.91, for a total transaction of $2,534,696.68.
  • On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.20, for a total transaction of $2,473,417.60.
  • On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.01, for a total transaction of $2,138,091.48.
  • On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.33, for a total transaction of $2,108,842.84.

Atlassian Price Performance

TEAM opened at $218.44 on Friday. The company’s 50 day simple moving average is $273.44 and its 200 day simple moving average is $234.20. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The stock has a market capitalization of $57.23 billion, a PE ratio of -163.01 and a beta of 0.91.

Atlassian (NASDAQ:TEAMGet Free Report) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, sell-side analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new position in Atlassian in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC raised its holdings in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after buying an additional 69 shares during the period. True Wealth Design LLC raised its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the period. Summit Securities Group LLC purchased a new position in Atlassian in the fourth quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian in the fourth quarter valued at approximately $39,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Oppenheimer increased their price target on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a report on Wednesday. Citigroup increased their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. JMP Securities reissued a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Finally, Mizuho increased their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $319.71.

View Our Latest Stock Analysis on TEAM

About Atlassian

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Atlassian (NASDAQ:TEAM)

Receive News & Ratings for Atlassian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlassian and related companies with MarketBeat.com's FREE daily email newsletter.