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 company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $161.98, for a total value of $1,287,417.04. Following the sale, the chief executive officer now owns 23,844 shares in the company, valued at $3,862,251.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 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 shares were 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 shares were 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.

Atlassian Stock Down 1.2 %

Shares of TEAM stock opened at $161.22 on Friday. The stock has a 50 day moving average of $160.31 and a 200 day moving average of $174.07. 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 stock has a market cap of $41.92 billion, a P/E ratio of -255.90 and a beta of 0.73. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69.

Atlassian (NASDAQ:TEAM) last issued 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 company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company earned ($0.21) earnings per share. Atlassian’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts expect that Atlassian Co. will post -0.58 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on TEAM. BMO Capital Markets decreased their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Morgan Stanley dropped their price target on Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and raised their price objective for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Oppenheimer reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Atlassian in a research report on Monday, September 23rd. Finally, Piper Sandler raised Atlassian from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $200.00 to $225.00 in a report on Tuesday, July 2nd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $217.69.

Institutional Trading of Atlassian

Several institutional investors have recently bought and sold shares of TEAM. Asset Dedication LLC grew its holdings in Atlassian by 229.8% in the second 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 period. Hollencrest Capital Management grew its holdings in Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after purchasing an additional 119 shares during the period. Trust Co. of Vermont grew its holdings in Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC acquired a new stake in Atlassian in the second quarter valued at approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian in the first quarter worth approximately $40,000. 93.03% of the stock is 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.