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 Atlassian stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $318.91, for a total transaction of $2,534,696.68. Following the sale, the chief executive officer now directly owns 294,076 shares in the company, valued at $93,783,777.16. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value 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 value 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 value 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.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $243.35, for a total value 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 value 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 transaction of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $246.97, for a total transaction of $1,962,917.56.

Atlassian Stock Performance

TEAM opened at $314.28 on Friday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $324.37. The firm has a market cap of $81.85 billion, a PE ratio of -234.54 and a beta of 0.87. 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 business has a fifty day simple moving average of $264.90 and a 200-day simple moving average of $211.90.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data 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 18.00% and a negative net margin of 7.22%. As a group, equities analysts predict that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the topic of several research reports. Barclays increased their price objective on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group increased their price objective on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Jefferies Financial Group boosted their target price 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. Raymond James restated an “outperform” rating and issued a $330.00 price target (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Monday, February 3rd. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. raised its stake in Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after purchasing an additional 78,454 shares during the period. State Street Corp increased its holdings in shares of Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after purchasing an additional 8,957 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after purchasing an additional 131,621 shares in the last quarter. FMR LLC boosted its holdings in shares of Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after purchasing an additional 150,237 shares during the period. Finally, Geode Capital Management LLC grew its position in Atlassian by 2.8% during the third quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after purchasing an additional 57,911 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.