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 firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $216.09, for a total transaction of $1,717,483.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, June 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $208.43, for a total transaction of $1,656,601.64.
• On Thursday, May 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $205.73, for a total transaction of $1,635,142.04.
• On Tuesday, May 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.81, for a total transaction of $1,675,517.88.
• On Friday, May 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $206.57, for a total transaction of $1,641,818.36.
• On Monday, May 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $214.92, for a total transaction of $1,708,184.16.
• On Friday, May 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $221.41, for a total value of $1,759,766.68.
• On Wednesday, May 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $225.44, for a total value of $1,791,797.12.
• On Monday, May 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.47, for a total value of $1,768,191.56.
• On Thursday, May 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $209.19, for a total value of $1,662,642.12.
• On Wednesday, April 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $225.64, for a total value of $1,793,386.72.

Atlassian Price Performance

Shares of NASDAQ TEAM traded up $0.48 during mid-day trading on Monday, reaching $214.99. 1,594,967 shares of the company were exchanged, compared to its average volume of 2,101,622. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $56.44 billion, a PE ratio of -160.44 and a beta of 0.96. The company's 50 day moving average price is $209.62 and its 200 day moving average price is $244.30.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TEAM. Wells Fargo & Company reduced their price target on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Canaccord Genuity Group dropped their price target on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Raymond James reiterated an "outperform" rating and issued a $300.00 price target (down from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Baird R W upgraded shares of Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Finally, UBS Group lowered their price target on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $285.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Clean Yield Group grew its position in shares of Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlassian in the fourth quarter worth $27,000. Colonial Trust Co SC increased its stake in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares in the last quarter. Smithfield Trust Co grew its stake in Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after acquiring an additional 78 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in Atlassian during the fourth quarter valued at $38,000. Institutional investors own 94.45% of the company's stock.

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.