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 on Friday, October 11th. The shares were sold at an average price of $187.54, for a total value of $1,490,567.92. Following the transaction, the chief executive officer now owns 437,140 shares in the company, valued at approximately $81,981,235.60. This represents a 0.00 % decrease in their position. The sale 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 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 shares were 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 value 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.
• 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.

Atlassian Price Performance

Shares of TEAM traded up $3.06 during trading hours on Friday, hitting $187.06. 2,968,411 shares of the stock were exchanged, compared to its average volume of 1,781,319. 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 12-month low of $135.29 and a 12-month high of $258.69. The company has a market cap of $48.64 billion, a price-to-earnings ratio of -161.26 and a beta of 0.73. The stock’s 50-day moving average price is $158.96 and its two-hundred day moving average price is $172.04.

Atlassian (NASDAQ:TEAM) last issued its quarterly 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 business earned ($0.21) earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. Research analysts expect that Atlassian Co. will post -0.58 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Asset Dedication LLC lifted its stake in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Hollencrest Capital Management lifted its stake in Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after acquiring an additional 119 shares in the last quarter. Trust Co. of Vermont lifted its stake in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Atlassian during the 2nd quarter worth about $36,000. Finally, GAMMA Investing LLC increased its holdings in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the subject of a number of research reports. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Scotiabank decreased their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $230.00 target price on shares of Atlassian in a report on Monday, September 23rd. BMO Capital Markets decreased their target price on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Finally, Canaccord Genuity Group lifted their target price on Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average target price of $216.29.

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.