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 business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.03, for a total value of $1,311,658.44. Following the completion of the transaction, the chief executive officer now owns 79,480 shares in the company, valued at approximately $13,116,584.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 transaction 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 transaction of $1,247,200.16.
• On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $141.23, for a total value 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 value of $1,150,314.04.
• On Wednesday, July 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.07, for a total value of $1,407,352.36.
• On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.65, for a total transaction of $1,411,962.20.
• On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.47, for a total transaction of $1,346,947.56.
• On Monday, July 22nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $175.95, for a total value of $1,398,450.60.

Atlassian Trading Down 5.6 %

Atlassian stock traded down $9.33 during trading hours on Tuesday, reaching $155.82. 3,327,742 shares of the company’s stock traded hands, compared to its average volume of 1,779,701. The firm has a market capitalization of $40.56 billion, a price-to-earnings ratio of -262.14 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The firm’s 50 day moving average is $163.38 and its 200-day moving average is $176.42.

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

Hedge Funds Weigh In On Atlassian

Hedge funds have recently added to or reduced their stakes in the stock. Dragoneer Investment Group LLC bought a new stake in shares of Atlassian in the 2nd quarter valued at about $469,803,000. Norges Bank bought a new stake in Atlassian in the fourth quarter valued at approximately $247,740,000. Price T Rowe Associates Inc. MD raised its holdings in Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of Atlassian during the second quarter worth $91,072,000. Finally, Vanguard Group Inc. boosted its position in shares of Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after purchasing an additional 504,181 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Robert W. Baird lowered shares of Atlassian from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $230.00 to $175.00 in a research report on Friday, August 2nd. Morgan Stanley cut their price objective on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Mizuho cut their price target on Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Finally, Wells Fargo & Company lowered their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average price target 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.