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 dated Tuesday, December 24th. The shares were sold at an average price of $255.25, for a total transaction of $2,028,727.00. Following the completion of the transaction, the chief executive officer now directly owns 31,792 shares of the company’s stock, valued at $8,114,908. The trade was a 20.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.22, for a total transaction of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.13, for a total transaction of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.20, for a total value of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.79, for a total value of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.32, for a total value of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $261.73, for a total value of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $239.19, for a total transaction of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $224.33, for a total transaction of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.72, for a total transaction of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.56, for a total transaction of $1,530,466.88.

Atlassian Stock Performance

Atlassian stock opened at $250.11 on Friday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market cap of $65.14 billion, a P/E ratio of -164.54 and a beta of 0.80. The stock has a 50 day moving average of $243.87 and a 200-day moving average of $193.53.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) EPS. On average, analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Institutional Trading of Atlassian

Several hedge funds and other institutional investors have recently bought and sold shares of TEAM. Financial Advocates Investment Management grew its position in shares of Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after acquiring an additional 62 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Atlassian by 13.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,502 shares of the technology company’s stock valued at $5,749,000 after purchasing an additional 3,958 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Atlassian by 189.7% during the second quarter. Panagora Asset Management Inc. now owns 15,204 shares of the technology company’s stock worth $2,689,000 after purchasing an additional 9,955 shares during the period. KCM Investment Advisors LLC lifted its position in shares of Atlassian by 108.0% in the 2nd quarter. KCM Investment Advisors LLC now owns 4,950 shares of the technology company’s stock worth $876,000 after buying an additional 2,570 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV boosted its holdings in shares of Atlassian by 22.8% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 1,721 shares of the technology company’s stock valued at $304,000 after buying an additional 320 shares during the period. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. KeyCorp lifted their target price on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Scotiabank boosted their target price on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Mizuho lifted their price target on shares of Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Morgan Stanley increased their price objective on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $258.00.

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.