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 business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $297.51, for a total transaction of $2,364,609.48. Following the sale, the chief executive officer now owns 214,596 shares in the company, valued at $63,844,455.96. This represents a 3.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $313.95, for a total transaction of $2,495,274.60.
• 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 shares were 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 shares were sold at an average price of $322.31, for a total transaction of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $318.91, for a total transaction of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $269.01, for a total transaction 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 transaction 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 transaction 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.

Atlassian Stock Performance

Atlassian stock traded down $12.50 during mid-day trading on Friday, reaching $285.99. The company had a trading volume of 1,717,448 shares, compared to its average volume of 2,056,392. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a 50 day moving average of $272.83 and a 200-day moving average of $221.70. The firm has a market cap of $74.93 billion, a price-to-earnings ratio of -213.42 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates 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, sell-side analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Institutional Trading of Atlassian

A number of hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp boosted its holdings in Atlassian by 6.2% in the 4th quarter. Mackenzie Financial Corp now owns 82,001 shares of the technology company’s stock valued at $19,957,000 after purchasing an additional 4,797 shares during the period. Toronto Dominion Bank raised its stake in shares of Atlassian by 14.6% in the 4th quarter. Toronto Dominion Bank now owns 26,405 shares of the technology company’s stock valued at $6,426,000 after buying an additional 3,371 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Atlassian in the 4th quarter valued at $7,447,000. University of Texas Texas AM Investment Management Co. raised its stake in shares of Atlassian by 66.4% in the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 7,120 shares of the technology company’s stock valued at $1,733,000 after buying an additional 2,842 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Atlassian in the 4th quarter valued at $16,461,000. 94.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on TEAM shares. KeyCorp upped their price objective on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Robert W. Baird boosted their target price on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Oppenheimer boosted their target price on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Macquarie boosted their target price on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Mizuho boosted their target price on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $319.71.

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.