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 stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 214,596 shares of the company’s stock, valued at $63,844,455.96. The trade was a 3.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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 Stock Down 4.2 %

Shares of NASDAQ:TEAM opened at $285.99 on Friday. The company has a market cap of $74.93 billion, a price-to-earnings ratio of -213.42 and a beta of 0.87. The firm’s 50-day simple moving average is $272.98 and its 200-day simple moving average is $223.27. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, equities research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlassian in the fourth quarter valued at about $27,000. Colonial Trust Co SC lifted its stake in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after purchasing an additional 69 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Atlassian in the fourth quarter valued at about $38,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian in the fourth quarter valued at about $39,000. Finally, Avion Wealth lifted its stake in shares of Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. Raymond James restated an “outperform” rating and issued a $330.00 price objective (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. UBS Group raised their price objective on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Canaccord Genuity Group raised their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, Oppenheimer raised their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $319.71.

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.