Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,028,488.56 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $255.22, for a total transaction of $2,028,488.56. Following the sale, the chief executive officer now directly owns 47,688 shares of the company’s stock, valued at $12,170,931.36. The trade was a 14.29 % decrease in their position. The sale was disclosed in a document filed 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, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.13, for a total value of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.20, for a total value of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.79, for a total transaction of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.32, for a total transaction of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $261.73, for a total value of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $239.19, for a total transaction of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $224.33, for a total transaction of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.72, for a total value 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 value 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 value of $1,499,310.72.

Atlassian Stock Performance

TEAM opened at $257.26 on Monday. The firm has a market cap of $67.00 billion, a P/E ratio of -169.25 and a beta of 0.80. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $287.97. The company has a 50 day simple moving average of $237.54 and a two-hundred day simple moving average of $190.54. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned ($0.07) earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. Equities analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently modified their holdings of TEAM. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Atlassian during the second quarter valued at about $242,000. Fifth Third Bancorp grew its holdings in Atlassian by 6.9% during the 2nd quarter. Fifth Third Bancorp now owns 10,836 shares of the technology company’s stock valued at $1,917,000 after buying an additional 698 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in Atlassian by 3.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the technology company’s stock worth $2,246,000 after acquiring an additional 400 shares during the last quarter. Hills Bank & Trust Co purchased a new stake in shares of Atlassian during the 2nd quarter worth approximately $161,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Atlassian by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 783,688 shares of the technology company’s stock valued at $138,619,000 after acquiring an additional 26,555 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the subject of several recent analyst reports. Truist Financial lifted their price target on Atlassian from $200.00 to $250.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Mizuho upped their target price on shares of Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Oppenheimer increased their price target on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group boosted their price objective on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday. Finally, Robert W. Baird increased their target price on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $258.00.

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.