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

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $196.44, for a total transaction of $1,505,712.60. Following the completion of the sale, the chief executive officer now directly owns 53,655 shares of the company's stock, valued at $10,539,988.20. The trade was a 12.50% decrease in their position. The transaction 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 Monday, June 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $200.68, for a total value of $1,538,212.20.
• On Thursday, June 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $199.55, for a total value of $1,529,550.75.
• On Monday, June 9th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $215.23, for a total transaction of $1,649,737.95.
• On Friday, June 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.09, for a total transaction of $1,717,483.32.
• 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 shares were 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 shares were sold at an average price of $206.57, for a total value 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 value 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.

Atlassian Price Performance

Shares of NASDAQ TEAM traded down $2.06 during midday trading on Wednesday, reaching $196.14. The company's stock had a trading volume of 3,199,606 shares, compared to its average volume of 2,324,362. Atlassian Corporation PLC has a one year low of $135.29 and a one year high of $326.00. The company has a market cap of $51.49 billion, a price-to-earnings ratio of -118.16 and a beta of 0.96. The company has a 50 day moving average price of $210.81 and a 200 day moving average price of $241.89. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Atlassian

A number of hedge funds have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA purchased a new stake in shares of Atlassian in the 4th quarter valued at approximately $687,486,000. Voya Investment Management LLC raised its stake in Atlassian by 17,941.0% during the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after purchasing an additional 2,160,810 shares during the period. JPMorgan Chase & Co. raised its stake in Atlassian by 72.9% during the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the period. Invesco Ltd. lifted its holdings in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock valued at $595,171,000 after purchasing an additional 1,777,179 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Atlassian in the first quarter worth $327,665,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. KeyCorp dropped their price objective on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Canaccord Genuity Group reduced their target price on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Morgan Stanley decreased their target price on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Barclays cut their price target on Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $282.19.

Atlassian Company Profile

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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