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 firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 254,336 shares of the company’s stock, valued at $80,304,048.64. This represents a 3.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• 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 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 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 shares were 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 stock was sold at an average price of $236.89, for a total transaction of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $243.35, for a total value of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $254.95, for a total value of $2,026,342.60.

Atlassian Stock Performance

NASDAQ TEAM opened at $316.00 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.18 and a current ratio of 1.24. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company’s 50 day moving average is $268.61 and its two-hundred day moving average is $216.16.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS 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 expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TEAM shares. Citigroup increased their price objective on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. The Goldman Sachs Group lifted their price target on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Oppenheimer boosted 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. Morgan Stanley raised their target price on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Canaccord Genuity Group boosted their target price on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $319.71.

Hedge Funds Weigh In On Atlassian

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in Atlassian by 68.6% in 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 raised its position in shares of Atlassian by 270.6% during the third quarter. CWM LLC now owns 7,875 shares of the technology company’s stock valued at $1,251,000 after buying an additional 5,750 shares during the last quarter. Creative Planning lifted its holdings in shares of Atlassian by 32.3% in the third quarter. Creative Planning now owns 7,947 shares of the technology company’s stock worth $1,262,000 after buying an additional 1,941 shares in the last quarter. Swedbank AB boosted its position in shares of Atlassian by 4.2% during the third quarter. Swedbank AB now owns 63,535 shares of the technology company’s stock worth $10,090,000 after acquiring an additional 2,539 shares during the last quarter. Finally, Slow Capital Inc. purchased a new position in Atlassian during the third quarter valued at $5,228,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.