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

by · The Cerbat Gem

Atlassian Corporation PLC (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $155.08, for a total value of $1,188,688.20. Following the transaction, the chief executive officer owned 145,635 shares in the company, valued at $22,585,075.80. This trade represents a 5.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

  • On Friday, November 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $150.12, for a total value of $1,150,669.80.
  • On Wednesday, November 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $148.29, for a total transaction of $1,136,642.85.
  • On Monday, November 24th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $146.62, for a total transaction of $1,123,842.30.
  • On Friday, November 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $144.02, for a total transaction of $1,103,913.30.
  • On Wednesday, November 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.63, for a total transaction of $1,131,583.95.
  • On Monday, November 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.41, for a total transaction of $1,129,897.65.
  • On Thursday, November 13th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $153.77, for a total transaction of $1,178,647.05.
  • On Monday, November 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.00, for a total value of $1,211,070.00.
  • On Friday, November 7th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.58, for a total value of $1,192,520.70.
  • On Wednesday, November 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.66, for a total value of $1,246,788.90.

Atlassian Trading Down 0.1%

Atlassian stock traded down $0.22 during trading hours on Thursday, reaching $156.54. The company had a trading volume of 1,852,889 shares, compared to its average volume of 2,503,511. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian Corporation PLC has a 12-month low of $139.70 and a 12-month high of $326.00. The company has a 50-day moving average price of $155.46 and a 200 day moving average price of $177.95. The firm has a market cap of $41.19 billion, a price-to-earnings ratio of -220.48, a P/E/G ratio of 29.03 and a beta of 0.89.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. One Wealth Advisors LLC grew its holdings in shares of Atlassian by 56.7% during the second quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company’s stock valued at $901,000 after buying an additional 1,606 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in Atlassian by 28.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 102,194 shares of the technology company’s stock worth $20,755,000 after acquiring an additional 22,701 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Atlassian by 3.7% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 258,299 shares of the technology company’s stock valued at $52,458,000 after acquiring an additional 9,274 shares in the last quarter. Machina Capital S.A.S. increased its holdings in shares of Atlassian by 203.0% in the 2nd quarter. Machina Capital S.A.S. now owns 9,376 shares of the technology company’s stock worth $1,904,000 after purchasing an additional 6,282 shares in the last quarter. Finally, Nicholas Company Inc. lifted its holdings in shares of Atlassian by 10.0% during the second quarter. Nicholas Company Inc. now owns 227,789 shares of the technology company’s stock valued at $46,262,000 after purchasing an additional 20,635 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

TEAM has been the topic of a number of analyst reports. Zacks Research upgraded shares of Atlassian from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. UBS Group reduced their price target on Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Cowen reaffirmed a “hold” rating on shares of Atlassian in a research report on Monday, October 27th. Citigroup reiterated a “buy” rating on shares of Atlassian in a research report on Wednesday, October 22nd. Finally, Mizuho boosted their target price on Atlassian from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $240.00.

Read Our Latest Analysis on Atlassian

Atlassian Company Profile

(Get Free Report)

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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