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

Atlassian Co. (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $215.23, for a total transaction of $1,649,737.95. Following the completion of the transaction, the chief executive officer now directly owns 107,310 shares of the company's stock, valued at $23,096,331.30. This represents a 6.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value 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 value 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 shares were 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 shares were 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 stock was 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 stock was 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 stock was sold at an average price of $222.47, for a total transaction 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 transaction of $1,662,642.12.

Atlassian Price Performance

TEAM stock traded down $1.22 during trading on Thursday, reaching $200.28. 1,884,728 shares of the company were exchanged, compared to its average volume of 2,113,316. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $52.57 billion, a P/E ratio of -149.46 and a beta of 0.96. The stock's 50 day moving average price is $210.19 and its 200 day moving average price is $243.79.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Atlassian's revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share. As a group, analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP increased its stake in shares of Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after purchasing an additional 47 shares in the last quarter. LPL Financial LLC grew its holdings in Atlassian by 93.4% during the 4th quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock valued at $12,542,000 after buying an additional 24,891 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in Atlassian during the 4th quarter valued at $10,805,000. Shay Capital LLC purchased a new position in Atlassian during the fourth quarter worth $243,000. Finally, Empowered Funds LLC raised its holdings in shares of Atlassian by 39.6% in the fourth quarter. Empowered Funds LLC now owns 3,361 shares of the technology company's stock worth $818,000 after acquiring an additional 953 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of research analyst reports. Macquarie cut their target price on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. BMO Capital Markets lowered their target price on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Stephens reduced their price target on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Finally, Canaccord Genuity Group decreased their price target 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. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $282.19.

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.