Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,529,550.75 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $199.55, for a total value of $1,529,550.75. Following the completion of the sale, the chief executive officer now owns 84,315 shares in the company, valued at approximately $16,825,058.25. This trade represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, June 9th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $215.23, for a total value of $1,649,737.95.
• On Friday, June 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.09, for a total value of $1,717,483.32.
• On Tuesday, June 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $208.43, for a total transaction of $1,656,601.64.
• On Thursday, May 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $205.73, for a total transaction of $1,635,142.04.
• On Tuesday, May 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.81, for a total transaction of $1,675,517.88.
• On Friday, May 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $206.57, for a total transaction of $1,641,818.36.
• On Monday, May 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $214.92, for a total transaction of $1,708,184.16.
• On Friday, May 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $221.41, for a total value of $1,759,766.68.
• On Wednesday, May 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $225.44, for a total value of $1,791,797.12.
• On Monday, May 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.47, for a total value of $1,768,191.56.

Atlassian Stock Performance

TEAM opened at $196.82 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The business has a fifty day simple moving average of $210.71 and a 200 day simple moving average of $242.64. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a market capitalization of $51.67 billion, a PE ratio of -146.88 and a beta of 0.96.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. Atlassian’s quarterly revenue was up 14.1% on a year-over-year basis. Research analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Baird R W upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. BMO Capital Markets lowered their target price on shares of Atlassian from $295.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Macquarie cut their price target on shares of Atlassian from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Piper Sandler reissued an “overweight” rating and issued a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Finally, Jefferies Financial Group dropped their target price on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $282.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Clean Yield Group increased its stake in Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company’s stock worth $25,000 after acquiring an additional 93 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian in the fourth quarter worth $27,000. Colonial Trust Co SC raised its stake in 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 in the last quarter. Smithfield Trust Co raised its stake in Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock valued at $34,000 after purchasing an additional 78 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in Atlassian during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.