Insider Selling: Atlassian (NASDAQ:TEAM) CEO Sells $1,236,364.50 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $161.30, for a total transaction of $1,236,364.50. Following the completion of the sale, the chief executive officer owned 38,325 shares in the company, valued at $6,181,822.50. The trade was a 16.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.40, for a total transaction of $1,244,796.00.
• On Wednesday, December 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.16, for a total value of $1,250,621.40.
• On Monday, December 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.92, for a total value of $1,218,121.80.
• On Friday, December 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.11, for a total value of $1,242,573.15.
• On Wednesday, December 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.79, for a total value of $1,240,120.35.
• On Monday, December 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.70, for a total value of $1,231,765.50.
• On Friday, December 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total value of $1,230,079.20.
• On Wednesday, December 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.08, for a total value of $1,188,688.20.
• On Friday, November 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.12, for a total transaction 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.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $160.53 on Friday. The company has a market capitalization of $42.24 billion, a PE ratio of -226.09, a price-to-earnings-growth ratio of 24.95 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The company’s fifty day moving average price is $158.00 and its 200 day moving average price is $172.72. Atlassian Corporation PLC has a 1 year low of $139.70 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The company’s revenue was up 20.6% compared to the same quarter last year. On average, research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the subject of a number of recent analyst reports. Mizuho boosted their price objective on Atlassian from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Wells Fargo & Company began coverage on shares of Atlassian in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $216.00 price target on the stock. Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. BMO Capital Markets lifted their target price on shares of Atlassian from $190.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Piper Sandler reissued an “overweight” rating and set a $300.00 target price on shares of Atlassian in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $239.23.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. lifted its position in Atlassian by 113.5% in the 1st quarter. Raymond James Financial Inc. now owns 82,703 shares of the technology company’s stock valued at $17,550,000 after acquiring an additional 43,960 shares in the last quarter. Martingale Asset Management L P purchased a new stake in shares of Atlassian during the first quarter valued at $427,000. Compound Planning Inc. increased its holdings in Atlassian by 29.7% in the 1st quarter. Compound Planning Inc. now owns 2,344 shares of the technology company’s stock worth $497,000 after buying an additional 537 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Atlassian by 11.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 716 shares of the technology company’s stock worth $156,000 after buying an additional 74 shares during the last quarter. Finally, Quantitative Investment Management LLC lifted its stake in Atlassian by 17.2% during the 1st quarter. Quantitative Investment Management LLC now owns 5,075 shares of the technology company’s stock valued at $1,076,000 after acquiring an additional 745 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.