Insider Selling: Atlassian (NASDAQ:TEAM) CEO Sells $1,242,573.15 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $162.11, for a total value of $1,242,573.15. Following the completion of the transaction, the chief executive officer directly owned 91,980 shares in the company, valued at approximately $14,910,877.80. This represents a 7.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, December 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.92, for a total value of $1,218,121.80.
• On Wednesday, December 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.79, for a total transaction of $1,240,120.35.
• On Monday, December 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.70, for a total transaction of $1,231,765.50.
• On Friday, December 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.48, for a total transaction of $1,230,079.20.
• On Wednesday, December 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total transaction of $1,188,688.20.
• On Friday, November 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $150.12, for a total transaction of $1,150,669.80.
• On Wednesday, November 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $148.29, for a total transaction of $1,136,642.85.
• On Monday, November 24th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $146.62, for a total value of $1,123,842.30.
• On Friday, November 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $144.02, for a total value of $1,103,913.30.
• On Wednesday, November 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.63, for a total value of $1,131,583.95.

Atlassian Stock Up 1.5%

Shares of NASDAQ TEAM opened at $161.98 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $42.62 billion, a PE ratio of -228.14, a P/E/G ratio of 30.10 and a beta of 0.89. Atlassian Corporation PLC has a one year low of $139.70 and a one year high of $326.00. The business’s fifty day moving average price is $156.48 and its 200-day moving average price is $174.53.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 EPS. On average, equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Atlassian

Several large investors have recently added to or reduced their stakes in TEAM. Allworth Financial LP increased its stake in Atlassian by 21.6% in the 3rd quarter. Allworth Financial LP now owns 3,161 shares of the technology company’s stock worth $505,000 after acquiring an additional 561 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Atlassian by 624.6% during the third quarter. IFP Advisors Inc now owns 5,174 shares of the technology company’s stock worth $826,000 after purchasing an additional 4,460 shares in the last quarter. Swiss Life Asset Management Ltd increased its position in shares of Atlassian by 14.7% in the third quarter. Swiss Life Asset Management Ltd now owns 27,397 shares of the technology company’s stock worth $4,375,000 after purchasing an additional 3,505 shares during the last quarter. Cambria Investment Management L.P. purchased a new stake in Atlassian in the third quarter valued at approximately $671,000. Finally, CIBC Bancorp USA Inc. bought a new stake in Atlassian during the third quarter valued at approximately $1,925,000. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a research note on Wednesday, October 8th. Robert W. Baird set a $230.00 target price on Atlassian in a research report on Friday, October 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Atlassian in a report on Friday, October 31st. Mizuho boosted their price objective on Atlassian from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, TD Cowen cut their target price on Atlassian from $220.00 to $205.00 and set a “hold” rating for the company in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.23.

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.