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 that occurred on Monday, September 16th. The stock was sold at an average price of $165.03, for a total value of $1,311,658.44. Following the transaction, the chief executive officer now owns 79,480 shares in the company, valued at approximately $13,116,584.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value of $1,279,389.56.
• On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $166.36, for a total value 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 value 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 value 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 value 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 value of $1,346,947.56.
• On Monday, July 22nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $175.95, for a total value of $1,398,450.60.

Atlassian Price Performance

TEAM opened at $159.84 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $41.56 billion, a PE ratio of -253.71 and a beta of 0.73. The company’s 50 day simple moving average is $162.64 and its 200 day simple moving average is $175.93. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69.

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

Institutional Trading of Atlassian

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after buying an additional 504,181 shares during the period. Diversified Trust Co lifted its holdings in shares of Atlassian by 27.6% in the 1st quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock worth $2,739,000 after purchasing an additional 3,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Atlassian by 7.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock worth $27,723,000 after buying an additional 10,434 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Atlassian by 2.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock valued at $34,213,000 after acquiring an additional 3,687 shares during the period. Finally, Alberta Investment Management Corp increased its holdings in shares of Atlassian by 16.1% in the 4th quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock worth $22,885,000 after acquiring an additional 13,328 shares during the period. Institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Baird R W cut Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Morgan Stanley cut their target price on Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Scotiabank decreased 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. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Finally, Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $230.00 to $175.00 in a research report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.