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

by · The Cerbat Gem

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $255.45, for a total value of $2,030,316.60. Following the completion of the transaction, the chief executive officer now owns 23,844 shares in the company, valued at $6,090,949.80. This trade represents a 25.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $246.97, for a total value of $1,962,917.56.
  • 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 value 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 value of $2,211,133.60.
  • On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.79, for a total value 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.
  • On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $261.73, for a total value of $2,080,230.04.
  • On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $239.19, for a total value of $1,901,082.12.
  • On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total value of $1,782,974.84.

Atlassian Trading Down 1.5 %

Shares of TEAM stock opened at $243.38 on Thursday. 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 1-year low of $135.29 and a 1-year high of $287.97. The company has a market cap of $63.38 billion, a price-to-earnings ratio of -160.12 and a beta of 0.80. The stock has a 50 day simple moving average of $247.04 and a 200-day simple moving average of $195.31.

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, topping 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 previous year, the business earned ($0.07) earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, equities research analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on TEAM. Scotiabank lifted their target price on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Truist Financial lifted their target price on Atlassian from $200.00 to $250.00 and gave the stock a “hold” rating in a report on Thursday, December 12th. KeyCorp lifted their target price on Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Wells Fargo & Company lifted their target price on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, BMO Capital Markets lifted their target price on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $258.00.

Get Our Latest Analysis on TEAM

Institutional Trading of Atlassian

Large investors have recently made changes to their positions in the company. Asset Dedication LLC increased its position in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Atlassian in the 2nd quarter valued at $36,000. True Wealth Design LLC grew its holdings in Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares in the last quarter. GAMMA Investing LLC grew its holdings in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares in the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in Atlassian in the 3rd quarter valued at $48,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

About Atlassian

(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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