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 on Friday, September 27th. The stock was sold at an average price of $161.30, for a total value of $1,282,012.40. Following the sale, the chief executive officer now directly owns 7,948 shares in the company, valued at approximately $1,282,012.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.98, for a total value of $1,287,417.04.
• On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $162.27, for a total value of $1,289,721.96.
• On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.56, for a total value of $1,299,974.88.
• On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $165.03, for a total value of $1,311,658.44.
• On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $160.97, for a total value of $1,279,389.56.
• On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $166.36, for a total value of $1,322,229.28.
• On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $156.92, for a total value of $1,247,200.16.
• On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $151.62, for a total transaction of $1,205,075.76.
• On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $141.23, for a total transaction of $1,122,496.04.
• On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $144.73, for a total transaction of $1,150,314.04.

Atlassian Price Performance

Shares of TEAM traded down $2.41 during mid-day trading on Monday, reaching $158.81. 1,165,893 shares of the company’s stock were exchanged, compared to its average volume of 1,779,423. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a 50-day simple moving average of $160.31 and a two-hundred day simple moving average of $173.53. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The company has a market cap of $41.30 billion, a price-to-earnings ratio of -253.46 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business earned ($0.21) earnings per share. Atlassian’s revenue was up 20.5% compared to the same quarter last year. On average, sell-side analysts predict that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Hedge funds have recently made changes to their positions in the stock. First Trust Direct Indexing L.P. lifted its holdings in shares of Atlassian by 1.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after acquiring an additional 55 shares in the last quarter. Park National Corp OH increased its stake in Atlassian by 4.0% during the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock worth $292,000 after buying an additional 58 shares during the period. Financial Advocates Investment Management lifted its holdings in Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after buying an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Atlassian by 1.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after buying an additional 65 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in Atlassian by 6.8% in the 1st quarter. UMB Bank n.a. now owns 1,112 shares of the technology company’s stock worth $217,000 after buying an additional 71 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Piper Sandler upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $200.00 to $225.00 in a research note on Tuesday, July 2nd. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Scotiabank decreased their target price on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Finally, Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price for the company in a research note on Thursday, July 11th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $217.69.

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.