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 dated Tuesday, February 18th. The stock was sold at an average price of $313.95, for a total value of $2,495,274.60. Following the sale, the chief executive officer now owns 230,492 shares in the company, valued at approximately $72,362,963.40. The trade was a 3.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $297.51, for a total value of $2,364,609.48.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.90, for a total value of $2,478,981.20.
• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.74, for a total value of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $322.31, for a total value 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 value of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 shares were 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 shares were sold at an average price of $251.20, for a total value 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 value of $1,882,801.72.

Atlassian Stock Performance

Shares of TEAM stock traded down $12.50 during trading hours on Friday, reaching $285.99. 1,717,448 shares of the company's stock were exchanged, compared to its average volume of 2,056,392. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The stock has a market capitalization of $74.93 billion, a P/E ratio of -213.42 and a beta of 0.87. The business has a fifty day moving average price of $272.83 and a 200-day moving average price of $221.70. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued 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 net margin of 7.22% and a negative return on equity of 17.37%. Analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TEAM. BMO Capital Markets upgraded Atlassian from a "market perform" rating to an "outperform" rating and upped their target price for the company from $255.00 to $292.00 in a report on Friday, January 10th. JMP Securities reissued a "market perform" rating on shares of Atlassian in a research note on Friday, January 31st. Morgan Stanley boosted their price target on Atlassian from $315.00 to $370.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Canaccord Genuity Group boosted their price target on Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Finally, Jefferies Financial Group boosted their price target on Atlassian from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $319.71.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Creative Planning raised its stake in Atlassian by 32.3% during the third quarter. Creative Planning now owns 7,947 shares of the technology company's stock worth $1,262,000 after acquiring an additional 1,941 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company's stock valued at $306,000 after acquiring an additional 520 shares during the last quarter. Signaturefd LLC boosted its holdings in Atlassian by 4.8% in the third quarter. Signaturefd LLC now owns 2,411 shares of the technology company's stock valued at $383,000 after acquiring an additional 111 shares during the last quarter. Eastern Bank bought a new position in Atlassian in the third quarter valued at about $217,000. Finally, Stanley Laman Group Ltd. bought a new position in Atlassian in the third quarter valued at about $6,046,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.