Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells 7,948 Shares of Stock

Atlassian Co. (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $315.74, for a total value of $2,509,501.52. Following the transaction, the chief executive officer now directly owns 254,336 shares in the company, valued at $80,304,048.64. This trade represents a 3.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.90, for a total transaction of $2,478,981.20.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $322.31, for a total transaction of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $318.91, for a total transaction of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.20, for a total value of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $269.01, for a total value of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.33, for a total value of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $251.20, for a total transaction of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $236.89, for a total transaction of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $243.35, for a total value of $1,934,145.80.

Atlassian Stock Down 0.9 %

Shares of NASDAQ TEAM traded down $2.90 during mid-day trading on Monday, reaching $313.10. The company had a trading volume of 2,882,414 shares, compared to its average volume of 2,088,136. The firm has a 50 day simple moving average of $270.89 and a two-hundred day simple moving average of $219.37. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.18 and a debt-to-equity ratio of 0.81. The stock has a market cap of $82.03 billion, a P/E ratio of -233.65 and a beta of 0.87.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Sell-side analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Atlassian by 13.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,373,394 shares of the technology company's stock valued at $334,257,000 after acquiring an additional 163,043 shares during the period. Voloridge Investment Management LLC grew its position in Atlassian by 210.6% during the 4th quarter. Voloridge Investment Management LLC now owns 573,519 shares of the technology company's stock worth $139,583,000 after purchasing an additional 388,870 shares during the last quarter. Worldquant Millennium Advisors LLC increased its stake in Atlassian by 1.7% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 252,919 shares of the technology company's stock valued at $61,555,000 after purchasing an additional 4,308 shares during the period. Washington Harbour Partners LP purchased a new stake in shares of Atlassian in the fourth quarter valued at about $1,996,000. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of Atlassian during the fourth quarter worth about $170,943,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TEAM. Canaccord Genuity Group lifted their price objective on Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, December 20th. The Goldman Sachs Group lifted their target price on Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Cantor Fitzgerald increased their price target on shares of Atlassian from $264.00 to $304.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. StockNews.com cut shares of Atlassian from a "buy" rating to a "hold" rating in a report on Thursday. Finally, Robert W. Baird increased their target price on shares of Atlassian from $175.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and a consensus price target of $319.71.

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.