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 the business’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $269.01, for a total transaction of $2,138,091.48. Following the completion of the sale, the chief executive officer now owns 349,712 shares in the company, valued at $94,076,025.12. This represents a 2.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• 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 transaction 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 transaction of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 shares were 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 value 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 value 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 transaction 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 transaction 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.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.25, for a total value of $2,028,727.00.

Atlassian Stock Down 1.2 %

Shares of TEAM stock opened at $271.33 on Thursday. The company has a market capitalization of $70.66 billion, a price-to-earnings ratio of -178.51 and a beta of 0.83. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $287.97. The firm has a fifty day moving average of $259.32 and a 200-day moving average of $206.76. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm 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 company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.07) EPS. As a group, equities research analysts predict that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on TEAM. Jefferies Financial Group raised their price target on Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. Macquarie assumed coverage on shares of Atlassian in a research report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price target for the company. Oppenheimer increased their price objective on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Scotiabank lifted their target price on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company increased their price target on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $273.19.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently bought and sold shares of TEAM. Virtu Financial LLC bought a new position in shares of Atlassian during the 3rd quarter worth approximately $606,000. Sequoia Financial Advisors LLC grew its position in Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares in the last quarter. Fulton Bank N.A. acquired a new stake in Atlassian in the 4th quarter valued at $447,000. Paloma Partners Management Co bought a new stake in Atlassian during the 3rd quarter worth about $1,588,000. Finally, Impax Asset Management Group plc boosted its stake in shares of 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. Institutional investors and hedge funds 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.