Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,495,274.60 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $313.95, for a total transaction of $2,495,274.60. Following the transaction, the chief executive officer now owns 230,492 shares in the company, valued at $72,362,963.40. This represents a 3.33 % decrease in their position. The transaction 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 Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.90, for a total transaction of $2,478,981.20.
• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.74, for a total transaction of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $318.91, for a total value of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.20, for a total transaction of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.01, for a total value of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.33, for a total value of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $251.20, for a total value of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $236.89, for a total transaction of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80.

Atlassian Stock Performance

Atlassian stock traded down $11.72 during mid-day trading on Wednesday, reaching $303.72. 2,334,142 shares of the company traded hands, compared to its average volume of 2,076,814. The firm’s fifty day moving average is $270.89 and its two-hundred day moving average is $219.37. The company has a market capitalization of $79.57 billion, a price-to-earnings ratio of -226.66 and a beta of 0.87. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TEAM shares. Jefferies Financial Group upped their target price on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Morgan Stanley increased their target price on Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a report on Thursday, February 13th. Cantor Fitzgerald lifted their price objective on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Mizuho upped their target price on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $319.71.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian in the 4th quarter worth approximately $27,000. Colonial Trust Co SC boosted its holdings in shares of Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after acquiring an additional 69 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Atlassian in the fourth quarter worth $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian during the fourth quarter worth $39,000. 94.45% of the stock is currently owned by hedge funds and other 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.