Insider Selling: Atlassian (NASDAQ:TEAM) CEO Sells $1,240,120.35 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $161.79, for a total value of $1,240,120.35. Following the completion of the sale, the chief executive officer directly owned 107,310 shares of the company’s stock, valued at $17,361,684.90. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, December 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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 shares were 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 stock was 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 shares were 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 transaction of $1,123,842.30.
• On Friday, November 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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.
• On Monday, November 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.41, for a total value of $1,129,897.65.
• On Thursday, November 13th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $153.77, for a total value of $1,178,647.05.

Atlassian Stock Performance

TEAM opened at $162.04 on Friday. The stock’s 50 day simple moving average is $155.86 and its 200-day simple moving average is $175.53. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a market cap of $42.63 billion, a PE ratio of -228.22, a P/E/G ratio of 30.56 and a beta of 0.89. Atlassian Corporation PLC has a 1 year low of $139.70 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. The firm had revenue of $1.43 billion during 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%.Atlassian’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period last year, the business earned $0.77 earnings per share. Sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Atlassian

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

Analysts Set New Price Targets

A number of analysts recently weighed in on TEAM shares. The Goldman Sachs Group reissued a “buy” rating and issued a $260.00 target price on shares of Atlassian in a research note on Friday, October 31st. Zacks Research upgraded Atlassian from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Mizuho increased their target price on Atlassian from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Sanford C. Bernstein boosted their price target on Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Finally, Guggenheim started coverage on Atlassian in a research report on Thursday, September 11th. They issued a “buy” rating and a $225.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $240.00.

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.