Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,282,012.40 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $161.30, for a total transaction of $1,282,012.40. Following the completion of the sale, the chief executive officer now owns 7,948 shares in the company, valued at approximately $1,282,012.40. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.98, for a total transaction of $1,287,417.04.
• On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was 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 transaction 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 transaction 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 shares were 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 shares were sold at an average price of $144.73, for a total transaction of $1,150,314.04.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded down $2.41 during midday trading on Monday, reaching $158.81. 1,165,893 shares of the company’s stock were exchanged, compared to its average volume of 1,779,423. The company’s 50 day simple moving average is $160.31 and its two-hundred day simple moving average is $173.53. The firm has a market capitalization of $41.30 billion, a PE ratio of -253.46 and a beta of 0.73. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS 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 during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm earned ($0.21) EPS. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. Equities research analysts expect that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management lifted its holdings in Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after purchasing an additional 119 shares during the last quarter. Asset Dedication LLC raised its stake in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Atlassian in the second quarter worth about $36,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Atlassian in the first quarter worth about $40,000. 93.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TEAM. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a research report on Thursday, July 11th. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Robert W. Baird downgraded shares of Atlassian from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $230.00 to $175.00 in a research report on Friday, August 2nd. Finally, Scotiabank cut their target price on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.