Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells 8,241 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $172.99, for a total value of $1,425,610.59. Following the completion of the sale, the chief executive officer now directly owns 325,245 shares in the company, valued at $56,264,132.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $178.95, for a total value of $1,474,726.95.
• On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $191.53, for a total value of $1,578,398.73.
• On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.26, for a total value of $1,617,378.66.
• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.46, for a total value of $1,627,267.86.
• On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $201.81, for a total value of $1,663,116.21.
• On Monday, April 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.71, for a total value of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.25, for a total value of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $195.98, for a total value of $1,615,071.18.
• On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $193.55, for a total value of $1,595,045.55.
• On Monday, March 25th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $192.21, for a total value of $1,584,002.61.

Atlassian Stock Up 6.2 %

NASDAQ TEAM traded up $10.78 during trading on Thursday, reaching $183.55. 3,233,250 shares of the company’s stock were exchanged, compared to its average volume of 1,775,085. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The firm has a market capitalization of $47.61 billion, a PE ratio of -291.35 and a beta of 0.67. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 0.82. The company’s fifty day simple moving average is $198.09 and its 200-day simple moving average is $206.17.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business earned ($0.40) EPS. The business’s quarterly revenue was up 29.9% on a year-over-year basis. Sell-side analysts predict that Atlassian Co. will post -0.41 EPS for the current year.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in TEAM. OFI Invest Asset Management bought a new position in shares of Atlassian in the 3rd quarter valued at approximately $26,000. Hollencrest Capital Management raised its stake in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares in the last quarter. Carmel Capital Partners LLC raised its stake in shares of Atlassian by 28.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after acquiring an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after acquiring an additional 271 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Atlassian by 255.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after acquiring an additional 291 shares in the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TEAM shares. Canaccord Genuity Group lowered their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Mizuho lowered their target price on Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, April 26th. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Oppenheimer decreased their price target on Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, The Goldman Sachs Group increased their price target on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.22.

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.