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 Monday, October 21st. The stock was sold at an average price of $192.18, for a total transaction of $1,527,446.64. Following the completion of the transaction, the chief executive officer now owns 389,452 shares of the company’s stock, valued at approximately $74,844,885.36. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 shares were sold at an average price of $187.54, for a total value of $1,490,567.92.
• On Wednesday, October 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was 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 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.
• 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 value 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 value of $1,311,658.44.

Atlassian Stock Down 2.6 %

Shares of TEAM stock opened at $188.76 on Thursday. The company has a market capitalization of $49.08 billion, a price-to-earnings ratio of -162.72 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’s fifty day moving average price is $167.87 and its 200-day moving average price is $171.66. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data 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 business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the business earned ($0.21) earnings per share. The business’s revenue was up 20.5% on a year-over-year basis. Sell-side analysts expect that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JMP Securities upgraded Atlassian to a “hold” rating in a report on Friday, August 2nd. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a report on Thursday, July 11th. Barclays decreased their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, Truist Financial dropped their price target on Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $212.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC purchased a new position in shares of Atlassian in the second quarter worth $469,803,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after purchasing an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Atlassian during the 2nd quarter valued at about $91,072,000. Quadrature Capital Ltd purchased a new position in shares of Atlassian during the first quarter valued at about $55,307,000. Finally, Swedbank AB bought a new stake in shares of Atlassian in the first quarter worth about $50,923,000. 93.03% of the stock is currently owned by institutional investors.

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.