Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,529,990.00 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $192.50, for a total transaction of $1,529,990.00. Following the transaction, the chief executive officer now owns 262,284 shares in the company, valued at approximately $50,489,670. This trade represents a 2.94 % decrease in their ownership of the stock. The transaction 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 Wednesday, April 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.23, for a total transaction of $1,670,908.04.
• On Wednesday, April 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $205.94, for a total value of $1,636,811.12.
• On Friday, April 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $195.91, for a total value of $1,557,092.68.
• On Wednesday, April 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $195.56, for a total value of $1,554,310.88.
• On Friday, April 4th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.28, for a total transaction of $1,496,449.44.
• On Wednesday, April 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.68, for a total transaction of $1,769,860.64.
• On Monday, March 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $209.73, for a total transaction of $1,666,934.04.
• On Friday, March 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.63, for a total value of $1,721,775.24.
• On Thursday, March 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $226.93, for a total value of $1,803,639.64.
• On Tuesday, March 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.90, for a total value of $1,723,921.20.

Atlassian Stock Up 8.1 %

Shares of TEAM opened at $225.08 on Friday. The firm has a market cap of $58.97 billion, a P/E ratio of -167.97 and a beta of 1.07. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The stock has a 50 day simple moving average of $230.99 and a two-hundred day simple moving average of $243.32. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TEAM. Massachusetts Financial Services Co. MA purchased a new stake in Atlassian during the 4th quarter valued at about $687,486,000. Voya Investment Management LLC lifted its position in Atlassian by 17,941.0% in the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock valued at $528,693,000 after purchasing an additional 2,160,810 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the period. Invesco Ltd. grew its holdings in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the last quarter. Finally, Durable Capital Partners LP increased its stake in shares of Atlassian by 499.7% in the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company’s stock worth $383,456,000 after buying an additional 1,312,820 shares during the period. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TEAM has been the topic of several recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Oppenheimer raised their price objective on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Cantor Fitzgerald raised shares of Atlassian from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Citigroup raised their price target on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, KeyCorp decreased their price objective on Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $297.73.

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.