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 Wednesday, November 6th. The shares were sold at an average price of $224.33, for a total transaction of $1,782,974.84. Following the completion of the transaction, the chief executive officer now owns 294,076 shares in the company, valued at $65,970,069.08. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.72, for a total transaction of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.56, for a total transaction of $1,530,466.88.
• On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.64, for a total transaction of $1,499,310.72.
• On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $189.75, for a total transaction of $1,508,133.00.
• On Wednesday, October 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.56, for a total transaction of $1,498,674.88.
• On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.18, for a total transaction of $1,527,446.64.
• 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 transaction of $1,539,527.60.
• On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $187.54, for a total transaction 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 transaction of $1,400,993.96.

Atlassian Stock Up 3.7 %

TEAM traded up $8.39 during trading on Thursday, hitting $233.96. 2,702,443 shares of the company’s stock traded hands, compared to its average volume of 1,844,991. The company’s 50 day simple moving average is $176.79 and its two-hundred day simple moving average is $171.90. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The stock has a market capitalization of $60.84 billion, a price-to-earnings ratio of -154.70 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business posted ($0.07) EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on TEAM shares. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company upped their price target on shares of Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Truist Financial increased their target price on shares of Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Mizuho increased their target price on shares of Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $243.16.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dragoneer Investment Group LLC bought a new stake in shares of Atlassian in the second quarter worth about $469,803,000. Price T Rowe Associates Inc. MD raised its stake in shares of Atlassian by 8.8% during the first 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 acquiring an additional 904,138 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Atlassian in the second quarter worth approximately $91,072,000. Quadrature Capital Ltd bought a new position in Atlassian in the first quarter worth approximately $55,307,000. Finally, Swedbank AB acquired a new position in shares of Atlassian during the first quarter worth $50,923,000. 93.03% of the stock is owned by institutional investors.

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.