Insider Selling: Atlassian (NASDAQ:TEAM) CEO Sells 7,665 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $136.93, for a total value of $1,049,568.45. Following the completion of the transaction, the chief executive officer owned 344,925 shares of the company’s stock, valued at approximately $47,230,580.25. This represents a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, January 22nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $126.11, for a total transaction of $966,633.15.
• On Tuesday, January 20th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $118.19, for a total transaction of $905,926.35.
• On Friday, January 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $120.82, for a total value of $926,085.30.
• On Wednesday, January 14th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $133.66, for a total transaction of $1,024,503.90.
• On Monday, January 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.15, for a total value of $1,127,904.75.
• On Friday, January 9th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $145.91, for a total value of $1,118,400.15.
• On Wednesday, January 7th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.11, for a total transaction of $1,234,908.15.
• On Monday, January 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $154.20, for a total value of $1,181,943.00.
• On Friday, January 2nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $156.15, for a total transaction of $1,196,889.75.
• On Wednesday, December 31st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.68, for a total value of $1,246,942.20.

Atlassian Trading Down 3.3%

Shares of NASDAQ TEAM traded down $4.58 during mid-day trading on Tuesday, hitting $133.86. The stock had a trading volume of 4,266,318 shares, compared to its average volume of 4,649,754. The business has a 50 day moving average price of $150.56 and a two-hundred day moving average price of $162.89. The firm has a market cap of $35.22 billion, a P/E ratio of -188.53, a price-to-earnings-growth ratio of 20.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. Atlassian Corporation PLC has a 1 year low of $115.53 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.21. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The company’s revenue was up 20.6% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. On average, equities analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in shares of Atlassian by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock worth $1,153,000 after buying an additional 2,267 shares during the period. Empowered Funds LLC raised its holdings in Atlassian by 39.5% during the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock worth $995,000 after acquiring an additional 1,328 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Atlassian by 32.6% during the 1st quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock worth $875,000 after acquiring an additional 1,014 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the period. Finally, Sivia Capital Partners LLC raised its position in shares of Atlassian by 27.5% in the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after buying an additional 404 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on TEAM. The Goldman Sachs Group restated a “buy” rating and set a $260.00 target price on shares of Atlassian in a research report on Friday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $240.00 price objective on shares of Atlassian in a report on Friday, October 31st. Citigroup decreased their target price on Atlassian from $240.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Canaccord Genuity Group restated a “buy” rating and issued a $230.00 target price on shares of Atlassian in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research note on Wednesday, January 21st. Twenty-one equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $231.54.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.