Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,138,091.48 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $269.01, for a total transaction of $2,138,091.48. Following the completion of the transaction, the chief executive officer now owns 349,712 shares in the company, valued at approximately $94,076,025.12. The trade was a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 stock was 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 value 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 value of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $243.35, for a total transaction of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $254.95, for a total transaction of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $242.27, for a total value of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $246.97, for a total value of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.45, for a total value of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.25, for a total transaction of $2,028,727.00.

Atlassian Price Performance

Atlassian stock opened at $266.95 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a fifty day simple moving average of $259.32 and a 200-day simple moving average of $206.76. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The firm has a market capitalization of $69.52 billion, a price-to-earnings ratio of -175.62 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last issued its quarterly 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 return on equity of 23.35% and a negative net margin of 8.59%. On average, equities analysts anticipate that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Institutional Trading of Atlassian

A number of large investors have recently made changes to their positions in TEAM. Point72 Asset Management L.P. lifted its position in Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after purchasing an additional 617,566 shares during the period. Two Sigma Advisers LP boosted its position in Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after acquiring an additional 551,500 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in Atlassian in the third quarter valued at approximately $57,149,000. Parnassus Investments LLC grew its stake in shares of Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after buying an additional 245,286 shares during the period. Finally, PointState Capital LP acquired a new stake in Atlassian during the 3rd quarter worth approximately $30,566,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TEAM. Oppenheimer upped their price target on Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Cantor Fitzgerald initiated coverage on Atlassian in a report on Friday, January 17th. They issued a “neutral” rating and a $264.00 price target for the company. Scotiabank upped their price objective on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Morgan Stanley increased their price objective on shares of Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, January 16th. Finally, Jefferies Financial Group upped their price target on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.19.

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.