Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,364,609.48 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $297.51, for a total transaction of $2,364,609.48. Following the completion of the sale, the chief executive officer now owns 214,596 shares of the company’s stock, valued at approximately $63,844,455.96. This trade represents a 3.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 stock was 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 stock was 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 transaction 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 transaction 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 transaction of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 transaction of $1,882,801.72.

Atlassian Price Performance

Shares of Atlassian stock opened at $285.99 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average price is $272.98 and its two-hundred day moving average price is $223.88. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The stock has a market cap of $74.93 billion, a PE 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) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TEAM shares. Oppenheimer boosted their price target on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a report on Friday, January 31st. KeyCorp boosted their price target on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Robert W. Baird boosted their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Jefferies Financial Group boosted their price target on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. Finally, UBS Group boosted their price target on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $319.71.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently bought and sold shares of TEAM. Murphy & Mullick Capital Management Corp acquired a new stake in Atlassian during the 4th quarter worth about $27,000. Colonial Trust Co SC raised its holdings in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after buying an additional 69 shares during the period. True Wealth Design LLC raised its holdings in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the period. Summit Securities Group LLC acquired a new stake in Atlassian during the 4th quarter worth about $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian during the 4th quarter worth about $39,000. 94.45% of the stock is currently owned by institutional investors.

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.