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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $259.69, for a total value of $2,064,016.12. Following the completion of the transaction, the chief executive officer now owns 135,116 shares in the company, valued at approximately $35,088,274.04. This represents a 5.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $297.51, for a total value of $2,364,609.48.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $313.95, for a total value of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.90, for a total value of $2,478,981.20.
• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.74, for a total value of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $318.91, for a total value of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.20, for a total value of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.01, for a total value of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $251.20, for a total value of $1,996,537.60.

Atlassian Stock Down 4.7 %

Shares of NASDAQ:TEAM opened at $238.86 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a 50-day moving average price of $276.11 and a 200 day moving average price of $231.65. The company has a market cap of $62.58 billion, a price-to-earnings ratio of -178.25 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of research reports. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Canaccord Genuity Group upped their price objective on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Citigroup increased their price target on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Jefferies Financial Group increased their price target on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, Mizuho increased their price target on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $319.71.

Institutional Trading of Atlassian

Institutional investors have recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp bought a new stake in Atlassian in the fourth quarter worth about $27,000. Colonial Trust Co SC increased its position in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after acquiring an additional 69 shares during the period. Summit Securities Group LLC purchased a new position in shares of Atlassian during the fourth quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian during the fourth quarter worth approximately $39,000. Finally, Avion Wealth increased its position in shares of Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after acquiring an additional 157 shares during the period. Institutional investors own 94.45% of the company’s stock.

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.