Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,287,417.04 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $161.98, for a total transaction of $1,287,417.04. Following the sale, the chief executive officer now owns 23,844 shares of the company’s stock, valued at $3,862,251.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 stock was 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 transaction of $1,279,389.56.
• On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $166.36, for a total transaction 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 transaction of $1,247,200.16.
• On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $151.62, for a total transaction of $1,205,075.76.
• On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $141.23, for a total transaction of $1,122,496.04.
• On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $144.73, for a total transaction of $1,150,314.04.
• On Wednesday, July 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.07, for a total transaction of $1,407,352.36.

Atlassian Stock Performance

Shares of TEAM stock opened at $161.22 on Friday. The stock has a market cap of $41.92 billion, a P/E ratio of -255.90 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The company has a fifty day moving average price of $160.31 and a two-hundred day moving average price of $174.07. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period in the prior year, the firm earned ($0.21) earnings per share. The company’s revenue was up 20.5% on a year-over-year basis. As a group, equities analysts predict that Atlassian Co. will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective for the company in a research report on Thursday, July 11th. JMP Securities raised shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Barclays reduced their price objective on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Oppenheimer reiterated an “outperform” rating and issued a $230.00 target price on shares of Atlassian in a research note on Monday, September 23rd. Finally, BMO Capital Markets cut their target price on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.69.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after purchasing an additional 504,181 shares during the period. Diversified Trust Co increased its stake in Atlassian by 27.6% during the 1st quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock valued at $2,739,000 after purchasing an additional 3,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Atlassian by 7.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock worth $27,723,000 after acquiring an additional 10,434 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Atlassian by 2.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $34,213,000 after acquiring an additional 3,687 shares during the last quarter. Finally, Alberta Investment Management Corp boosted its holdings in Atlassian by 16.1% during the 4th quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock worth $22,885,000 after acquiring an additional 13,328 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

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.