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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $311.20, for a total transaction of $2,473,417.60. Following the transaction, the chief executive officer now owns 309,972 shares in the company, valued at $96,463,286.40. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $269.01, for a total transaction of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.33, for a total value of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $251.20, for a total value of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $236.89, for a total value of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $243.35, for a total transaction of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $254.95, for a total transaction of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $242.27, for a total value of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $246.97, for a total value of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.45, for a total transaction of $2,030,316.60.

Atlassian Stock Performance

Shares of TEAM traded up $5.33 during mid-day trading on Tuesday, hitting $316.73. The company’s stock had a trading volume of 1,927,463 shares, compared to its average volume of 2,219,008. Atlassian Co. has a one year low of $135.29 and a one year high of $324.37. The stock’s 50-day moving average is $262.61 and its two-hundred day moving average is $210.38. The firm has a market capitalization of $82.49 billion, a PE ratio of -236.36 and a beta of 0.87. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 18.00%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares during the period. GAMMA Investing LLC lifted its holdings in Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after purchasing an additional 54 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Atlassian by 4.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,467 shares of the technology company’s stock valued at $357,000 after buying an additional 56 shares in the last quarter. J.W. Cole Advisors Inc. grew its stake in Atlassian by 1.5% during the fourth quarter. J.W. Cole Advisors Inc. now owns 3,958 shares of the technology company’s stock worth $963,000 after buying an additional 59 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC increased its holdings in shares of Atlassian by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after buying an additional 70 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of recent analyst reports. Barclays lifted their price target on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. The Goldman Sachs Group lifted their target price on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday. Piper Sandler increased their price target on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday. Scotiabank lifted their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research note on Friday. Finally, Robert W. Baird increased their target price on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $318.43.

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.