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 stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $189.37, for a total transaction of $1,451,521.05. Following the completion of the sale, the chief executive officer owned 406,245 shares in the company, valued at $76,930,615.65. This represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, July 14th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.06, for a total transaction of $1,472,139.90.
• On Friday, July 11th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.64, for a total value of $1,476,585.60.
• On Wednesday, July 9th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $219.98, for a total value of $1,686,146.70.
• On Monday, July 7th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $214.49, for a total value of $1,644,065.85.
• On Thursday, July 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $213.97, for a total value of $1,640,080.05.
• On Monday, June 30th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $203.16, for a total value of $1,557,221.40.
• On Friday, June 27th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $203.66, for a total value of $1,561,053.90.
• On Wednesday, June 25th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $199.71, for a total value of $1,530,777.15.
• On Monday, June 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.68, for a total value of $1,476,892.20.
• On Friday, June 20th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.44, for a total value of $1,475,052.60.

Atlassian Price Performance

NASDAQ TEAM traded up $0.17 during trading on Thursday, hitting $190.62. 2,070,218 shares of the stock traded hands, compared to its average volume of 2,195,561. The company has a market capitalization of $50.04 billion, a P/E ratio of -114.83 and a beta of 0.94. Atlassian Corporation PLC has a 12-month low of $135.29 and a 12-month high of $326.00. The firm has a 50-day simple moving average of $206.93 and a 200-day simple moving average of $232.68. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TEAM. Canaccord Genuity Group decreased their price objective on Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. UBS Group reissued a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Jefferies Financial Group reduced their price target on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Finally, Baird R W raised Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $279.81.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of TEAM. Clean Yield Group grew its stake in Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after buying an additional 93 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlassian in the fourth quarter worth about $27,000. Colonial Trust Co SC boosted 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 buying an additional 69 shares during the last quarter. Smithfield Trust Co boosted its stake in shares of Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after buying an additional 78 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in Atlassian during the fourth quarter worth approximately $38,000. 94.45% of the stock is owned by institutional investors.

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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