Michael Cannon-Brookes Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $163.56, for a total transaction of $1,299,974.88. Following the completion of the transaction, the chief executive officer now directly owns 55,636 shares in the company, valued at $9,099,824.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $165.03, for a total transaction of $1,311,658.44.
• On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $160.97, for a total transaction of $1,279,389.56.
• On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $166.36, for a total transaction of $1,322,229.28.
• On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $156.92, for a total transaction of $1,247,200.16.
• On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $151.62, for a total transaction of $1,205,075.76.
• On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $141.23, for a total transaction of $1,122,496.04.
• On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $144.73, for a total transaction of $1,150,314.04.
• On Wednesday, July 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.07, for a total transaction of $1,407,352.36.
• On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.65, for a total transaction of $1,411,962.20.
• On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.47, for a total transaction of $1,346,947.56.

Atlassian Price Performance

Atlassian stock opened at $163.08 on Monday. The firm has a market cap of $42.45 billion, a PE ratio of -258.86 and a beta of 0.73. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is $161.99 and its two-hundred day moving average is $175.23.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the business earned ($0.21) EPS. The company’s revenue was up 20.5% on a year-over-year basis. On average, research analysts expect that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Direct Indexing L.P. grew its position in shares of Atlassian by 1.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after buying an additional 55 shares during the last quarter. Park National Corp OH boosted its holdings in shares of Atlassian by 4.0% in the first quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock valued at $292,000 after acquiring an additional 58 shares in the last quarter. Financial Advocates Investment Management boosted its holdings in shares of Atlassian by 1.7% in the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after acquiring an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in shares of Atlassian by 1.4% in the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after acquiring an additional 65 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Atlassian by 6.8% in the first quarter. UMB Bank n.a. now owns 1,112 shares of the technology company’s stock valued at $217,000 after acquiring an additional 71 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on TEAM shares. Mizuho reduced their price target on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Scotiabank dropped their price target on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Oppenheimer dropped their price target on shares of Atlassian from $250.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $217.69.

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.