Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 15,896 Shares

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the sale, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at $104,529,711.60. The trade was a 3.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 stock was 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 value of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.25, for a total transaction of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.22, for a total transaction of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.13, for a total value of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.20, for a total value of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.79, for a total value of $2,215,822.92.

Atlassian Stock Down 2.5 %

NASDAQ:TEAM traded down $6.15 during trading hours on Monday, hitting $236.24. The company’s stock had a trading volume of 1,091,588 shares, compared to its average volume of 1,852,554. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $61.52 billion, a P/E ratio of -155.42 and a beta of 0.83. The stock has a fifty day moving average of $254.33 and a 200-day moving average of $199.79.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.07) EPS. On average, equities analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on TEAM shares. Wells Fargo & Company upped their target price on shares of Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $255.00 to $292.00 in a research report on Friday. UBS Group boosted their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Piper Sandler raised their price target on Atlassian from $265.00 to $310.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, Robert W. Baird boosted their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $266.10.

Institutional Trading of Atlassian

Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in Atlassian in the third quarter valued at $606,000. Sequoia Financial Advisors LLC increased its position in shares of Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after purchasing an additional 520 shares in the last quarter. Fulton Bank N.A. purchased a new stake in shares of Atlassian in the 4th quarter valued at about $447,000. Paloma Partners Management Co acquired a new stake in shares of Atlassian in the 3rd quarter valued at about $1,588,000. Finally, Impax Asset Management Group plc grew its stake in Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.