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 company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $315.74, for a total value of $2,509,501.52. Following the completion of the transaction, the chief executive officer now directly owns 254,336 shares in the company, valued at $80,304,048.64. The trade was a 3.03 % decrease in their position. 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 Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.90, for a total value of $2,478,981.20.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $318.91, for a total value of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $251.20, for a total value of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $236.89, for a total value 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 value 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.

Atlassian Price Performance

TEAM stock opened at $313.10 on Friday. The stock has a market capitalization of $82.03 billion, a PE ratio of -233.65 and a beta of 0.87. The company’s 50-day moving average is $270.09 and its 200-day moving average is $218.10. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last released 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 return on equity of 17.37% and a negative net margin of 7.22%. Equities research analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in TEAM. GAMMA Investing LLC boosted its position in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares in the last quarter. CWM LLC lifted its position in Atlassian by 270.6% in the 3rd quarter. CWM LLC now owns 7,875 shares of the technology company’s stock valued at $1,251,000 after acquiring an additional 5,750 shares in the last quarter. Creative Planning lifted its position in Atlassian by 32.3% in the 3rd quarter. Creative Planning now owns 7,947 shares of the technology company’s stock valued at $1,262,000 after acquiring an additional 1,941 shares in the last quarter. Swedbank AB lifted its position in Atlassian by 4.2% in the 3rd quarter. Swedbank AB now owns 63,535 shares of the technology company’s stock valued at $10,090,000 after acquiring an additional 2,539 shares in the last quarter. Finally, Slow Capital Inc. bought a new position in Atlassian in the 3rd quarter valued at about $5,228,000. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. William Blair restated an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Thursday. Cantor Fitzgerald increased their price target on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, Scotiabank increased their price target on Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

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.