Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,425,610.59 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $172.99, for a total value of $1,425,610.59. Following the completion of the transaction, the chief executive officer now directly owns 325,245 shares in the company, valued at $56,264,132.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.95, for a total transaction of $1,474,726.95.
• On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $191.53, for a total transaction of $1,578,398.73.
• On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.26, for a total transaction of $1,617,378.66.
• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.46, for a total value of $1,627,267.86.
• On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $201.81, for a total value of $1,663,116.21.
• On Monday, April 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.71, for a total value of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.25, for a total value of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $195.98, for a total transaction of $1,615,071.18.
• On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $193.55, for a total transaction of $1,595,045.55.
• On Monday, March 25th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $192.21, for a total transaction of $1,584,002.61.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $183.52 on Friday. The firm has a 50-day moving average of $197.23 and a two-hundred day moving average of $205.98. The company has a market capitalization of $47.61 billion, a price-to-earnings ratio of -291.30 and a beta of 0.67. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 0.82. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.40) earnings per share. As a group, analysts expect that Atlassian Co. will post -0.29 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

A number of institutional investors have recently added to or reduced their stakes in TEAM. Graypoint LLC lifted its stake in shares of Atlassian by 2.4% in the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock valued at $424,000 after purchasing an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of Atlassian by 1.4% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after buying an additional 43 shares during the last quarter. Park National Corp OH boosted its stake in shares of Atlassian by 3.5% during the 4th quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after acquiring an additional 48 shares in the last quarter. First Trust Direct Indexing L.P. increased 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 during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Atlassian by 5.7% in the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock valued at $248,000 after acquiring an additional 56 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TEAM. The Goldman Sachs Group lifted their target price on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Mizuho reduced their target price on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Canaccord Genuity Group dropped their price target on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 26th. StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Finally, Piper Sandler dropped their target price on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $223.22.

About Atlassian

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.