Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,346,947.56 in 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, July 24th. The shares were sold at an average price of $169.47, for a total transaction of $1,346,947.56. Following the sale, the chief executive officer now owns 373,556 shares in the company, valued at $63,306,535.32. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, July 22nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $175.95, for a total transaction of $1,398,450.60.
• On Wednesday, July 17th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $180.42, for a total transaction of $1,433,978.16.
• On Monday, July 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $180.11, for a total transaction of $1,431,514.28.
• On Wednesday, July 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $173.13, for a total transaction of $1,376,037.24.
• On Monday, July 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $182.56, for a total transaction of $1,450,986.88.
• On Wednesday, June 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $170.45, for a total transaction of $1,354,736.60.
• On Monday, June 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.95, for a total transaction of $1,303,074.60.
• On Friday, June 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $159.43, for a total transaction of $1,267,149.64.
• On Wednesday, June 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.54, for a total transaction of $1,299,815.92.
• On Tuesday, May 28th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $165.51, for a total transaction of $1,363,967.91.

Atlassian Trading Down 0.5 %

Shares of NASDAQ TEAM opened at $177.32 on Friday. Atlassian Co. has a 1 year low of $152.34 and a 1 year high of $258.69. The stock has a market cap of $46.16 billion, a P/E ratio of -281.46 and a beta of 0.74. The firm has a 50-day moving average of $170.19 and a 200 day moving average of $193.91. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the company posted ($0.40) EPS. Atlassian’s revenue was up 29.9% on a year-over-year basis. As a group, sell-side analysts expect that Atlassian Co. will post -0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird cut their price target on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Citigroup cut their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, April 12th. TD Cowen cut their price target on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a report on Thursday, July 11th. Finally, Mizuho cut their price target on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.81.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TEAM. Hollencrest Capital Management lifted its position in Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Trust Co. of Vermont lifted its stake in shares of Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in shares of Atlassian in the first quarter worth approximately $40,000. Crewe Advisors LLC bought a new position in shares of Atlassian in the first quarter worth approximately $43,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after buying an additional 271 shares in the last quarter. 93.03% of the stock is 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.