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

Posted by MarketBeat News on Sep 26th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $161.98, for a total value of $1,287,417.04. Following the sale, the chief executive officer now directly owns 23,844 shares in the company, valued at approximately $3,862,251.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.27, for a total transaction of $1,289,721.96.
On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.56, for a total transaction of $1,299,974.88.
On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $165.03, for a total transaction of $1,311,658.44.
On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.97, for a total transaction 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 value 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 shares were sold at an average price of $177.07, for a total transaction of $1,407,352.36.

Atlassian Stock Performance

Shares of TEAM traded up $1.24 during mid-day trading on Thursday, hitting $163.14. The stock had a trading volume of 1,350,000 shares, compared to its average volume of 1,784,604. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market cap of $42.47 billion, a PE ratio of -258.89 and a beta of 0.73. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The company’s fifty day simple moving average is $160.87 and its two-hundred day simple moving average is $174.53.

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Atlassian (NASDAQ:TEAM – Get Free Report) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company earned ($0.21) earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. On average, equities analysts expect that Atlassian Co. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Capital One Financial raised Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a research report on Thursday, July 11th. Scotiabank decreased their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. BMO Capital Markets cut their price target on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Oppenheimer reissued an “outperform” rating and issued a $230.00 price objective on shares of Atlassian in a research report on Monday. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $217.69.

Get Our Latest Stock Analysis on TEAM

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently bought and sold shares of TEAM. Vanguard Group Inc. boosted its position in Atlassian by 3.4% during 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 purchasing an additional 504,181 shares during the period. Diversified Trust Co grew its position in shares of Atlassian by 27.6% during the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock worth $2,739,000 after acquiring an additional 3,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Atlassian by 7.9% in 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 acquiring an additional 10,434 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Atlassian by 2.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $34,213,000 after acquiring an additional 3,687 shares during the period. Finally, Alberta Investment Management Corp lifted its position in Atlassian by 16.1% in the 4th quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock valued at $22,885,000 after purchasing an additional 13,328 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

About Atlassian

(Get Free Report)

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.