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 Atlassian stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $243.35, for a total transaction of $1,934,145.80. Following the sale, the chief executive officer now owns 445,088 shares in the company, valued at $108,312,164.80. This represents a 1.75 % decrease in their position. 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 Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $254.95, for a total transaction of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $246.97, for a total transaction of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.45, for a total value of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.25, for a total value of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.22, for a total value of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.13, for a total transaction of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.20, for a total transaction of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.79, for a total transaction of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.32, for a total value of $2,100,815.36.

Atlassian Stock Down 1.4 %

NASDAQ:TEAM traded down $3.36 on Wednesday, hitting $244.49. 1,659,500 shares of the company's stock were exchanged, compared to its average volume of 2,011,765. The company has a market cap of $63.67 billion, a P/E ratio of -160.85 and a beta of 0.83. The firm has a 50-day moving average price of $251.77 and a 200-day moving average price of $198.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.16 billion. During the same period in the prior year, the firm posted ($0.07) earnings per share. The business's quarterly revenue was up 21.5% compared to the same quarter last year. As a group, analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in shares of Atlassian during the 3rd quarter worth about $606,000. Sequoia Financial Advisors LLC increased its position in Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company's stock worth $306,000 after buying an additional 520 shares during the last quarter. Paloma Partners Management Co bought a new stake in Atlassian in the third quarter valued at approximately $1,588,000. Impax Asset Management Group plc lifted its position in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company's stock valued at $5,940,000 after buying an additional 31,986 shares during the last quarter. Finally, Parnassus Investments LLC lifted its position in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company's stock valued at $51,016,000 after buying an additional 245,286 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on TEAM shares. Truist Financial upgraded shares of Atlassian from a "hold" rating to a "buy" rating and upped their price target for the stock from $250.00 to $300.00 in a research report on Tuesday. Canaccord Genuity Group raised their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a report on Friday, December 20th. UBS Group upped their price objective on Atlassian from $180.00 to $205.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Raymond James lifted their target price on Atlassian from $200.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Piper Sandler upped their price target on Atlassian from $265.00 to $310.00 and gave the company an "overweight" rating in a research note on Monday. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus target price of $264.25.

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.

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