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

Posted by MarketBeat News on Oct 12th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $176.27, for a total value of $1,400,993.96. Following the completion of the sale, the chief executive officer now owns 453,036 shares in the company, valued at approximately $79,856,655.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $187.54, for a total value of $1,490,567.92.
On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $159.81, for a total transaction of $1,270,169.88.
On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction of $1,282,012.40.
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 value of $1,289,721.96.
On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.56, for a total value 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 value 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 shares were 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.

Atlassian Stock Performance

Shares of TEAM stock opened at $187.06 on Friday. The stock has a market cap of $48.64 billion, a PE ratio of -161.26 and a beta of 0.73. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The business has a 50-day simple moving average of $158.96 and a 200-day simple moving average of $172.04. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95.

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Atlassian (NASDAQ:TEAM – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The business had revenue of $1.13 billion for 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 business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) EPS. On average, equities analysts expect that Atlassian Co. will post -0.58 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. BMO Capital Markets dropped their target price on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research report on Friday, August 2nd. Baird R W lowered Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Barclays lowered their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, Raymond James raised shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research report on Tuesday, October 1st. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $216.29.

Check Out Our Latest Report on TEAM

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Asset Dedication LLC boosted its stake in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Hollencrest Capital Management raised its holdings in Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares during the period. Trust Co. of Vermont boosted its position in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Atlassian in the second quarter valued at approximately $36,000. Finally, GAMMA Investing LLC increased its position in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Company Profile

(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.