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, October 30th. The shares were sold at an average price of $192.56, for a total transaction of $1,530,466.88. Following the transaction, the chief executive officer now owns 333,816 shares in the company, valued at $64,279,608.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.64, for a total value of $1,499,310.72.
• On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.75, for a total value 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 value 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 stock was 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 shares were 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 value 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 value of $1,400,993.96.
• On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $159.81, for a total value of $1,270,169.88.
• On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction of $1,282,012.40.

Atlassian Stock Performance

TEAM stock traded down $1.90 during midday trading on Thursday, reaching $188.54. The stock had a trading volume of 3,698,742 shares, compared to its average volume of 1,787,631. The firm has a fifty day simple moving average of $171.36 and a two-hundred day simple moving average of $171.12. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $49.08 billion, a PE ratio of -302.17 and a beta of 0.73. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. Atlassian’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, equities research analysts anticipate that Atlassian Co. will post -0.58 EPS for the current year.

Institutional Trading of Atlassian

Several large investors have recently made changes to their positions in TEAM. Asset Dedication LLC boosted its stake in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after buying an additional 108 shares during the last quarter. Hollencrest Capital Management boosted its position in Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares in the last quarter. Trust Co. of Vermont grew its stake in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the period. Rothschild Investment LLC purchased a new position in shares of Atlassian during the 2nd quarter valued at approximately $36,000. Finally, GAMMA Investing LLC lifted its stake in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares during the period. 93.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TEAM. Morgan Stanley increased their price objective on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $230.00 to $175.00 in a research note on Friday, August 2nd. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a research note on Thursday, July 11th. Finally, Raymond James raised shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research report on Tuesday, October 1st. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $212.47.

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.