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 firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $163.56, for a total value of $1,299,974.88. Following the completion of the sale, the chief executive officer now directly owns 55,636 shares in the company, valued at $9,099,824.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value of $1,311,658.44.
• On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $156.92, for a total value 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 value of $1,205,075.76.
• On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $141.23, for a total value of $1,122,496.04.
• On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $144.73, for a total value 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 value of $1,407,352.36.
• On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.65, for a total value of $1,411,962.20.
• On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.47, for a total value of $1,346,947.56.

Atlassian Stock Down 0.0 %

TEAM traded down $0.02 on Friday, hitting $163.08. 2,362,071 shares of the company were exchanged, compared to its average volume of 1,787,570. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The company has a market cap of $42.41 billion, a price-to-earnings ratio of -258.89 and a beta of 0.73. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm has a 50-day moving average price of $162.35 and a two-hundred day moving average price of $175.85.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping 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 firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the previous year, the firm posted ($0.21) EPS. Atlassian’s revenue for the quarter was up 20.5% on a year-over-year basis. On average, equities analysts predict that Atlassian Co. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Mizuho reduced their price objective on Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Wells Fargo & Company reduced their target price on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Scotiabank reduced their target price on 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, Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $217.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Atlassian during the 2nd quarter worth about $12,846,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Atlassian during the 2nd quarter worth about $462,000. Sanctuary Advisors LLC acquired a new position in shares of Atlassian during the 2nd quarter worth about $1,022,000. New Century Financial Group LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at about $397,000. Finally, Truist Financial Corp boosted its position in shares of Atlassian by 2.5% in the 2nd quarter. Truist Financial Corp now owns 84,358 shares of the technology company’s stock valued at $14,921,000 after purchasing an additional 2,050 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

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.