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 firm's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $202.78, for a total value of $1,554,308.70. Following the completion of the transaction, the chief executive officer owned 367,920 shares in the company, valued at approximately $74,606,817.60. This trade represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, July 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $194.98, for a total value of $1,494,521.70.
• On Friday, July 18th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.82, for a total value of $1,477,965.30.
• On Wednesday, July 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $189.37, for a total value of $1,451,521.05.
• On Monday, July 14th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.06, for a total value 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $203.66, for a total value of $1,561,053.90.

Atlassian Stock Down 1.4%

TEAM traded down $2.74 on Thursday, hitting $199.83. 1,468,094 shares of the company were exchanged, compared to its average volume of 2,323,452. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a market cap of $52.46 billion, a price-to-earnings ratio of -120.38 and a beta of 0.94. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $204.67 and a two-hundred day moving average price of $230.98.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $1.35 billion. During the same period in the previous year, the firm posted $0.89 EPS. Atlassian's revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on TEAM. Robert W. Baird upgraded Atlassian from a "neutral" rating to an "outperform" rating and reduced their target price for the company from $320.00 to $255.00 in a research report on Monday, April 14th. Piper Sandler restated an "overweight" rating and issued a $300.00 target price (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Oppenheimer reduced their target price on Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a research report on Monday. KeyCorp reduced their target price on Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a research report on Thursday, July 17th. Finally, BMO Capital Markets reduced their target price on Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $274.05.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently modified their holdings of the company. Aberdeen Group plc increased its position in shares of Atlassian by 7.4% in the 2nd quarter. Aberdeen Group plc now owns 109,267 shares of the technology company's stock valued at $22,191,000 after purchasing an additional 7,526 shares during the last quarter. Blue Trust Inc. increased its position in shares of Atlassian by 43.1% in the 2nd quarter. Blue Trust Inc. now owns 485 shares of the technology company's stock valued at $98,000 after purchasing an additional 146 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Atlassian by 113.1% during the 2nd quarter. IFP Advisors Inc now owns 714 shares of the technology company's stock worth $145,000 after acquiring an additional 379 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of Atlassian during the 2nd quarter worth about $368,000. Finally, Allegiance Financial Group Advisory Services LLC boosted its position in shares of Atlassian by 29.7% during the 2nd quarter. Allegiance Financial Group Advisory Services LLC now owns 1,226 shares of the technology company's stock worth $249,000 after acquiring an additional 281 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other 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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