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 that occurred on Friday, December 20th. The stock was sold at an average price of $255.22, for a total transaction of $2,028,488.56. Following the sale, the chief executive officer now directly owns 47,688 shares in the company, valued at approximately $12,170,931.36. This represents a 14.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.13, for a total transaction of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.20, for a total value of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.79, for a total value of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $264.32, for a total value of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $261.73, for a total transaction of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $239.19, for a total transaction of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $224.33, for a total transaction of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.72, for a total value of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.56, for a total value of $1,530,466.88.
• On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.64, for a total value of $1,499,310.72.

Atlassian Trading Up 2.4 %

Shares of Atlassian stock opened at $257.26 on Friday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $67.00 billion, a price-to-earnings ratio of -169.25 and a beta of 0.80. The stock has a 50 day moving average of $237.54 and a 200 day moving average of $190.31.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations 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 was up 21.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) EPS. As a group, research analysts predict that Atlassian Co. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in TEAM. Asset Dedication LLC increased its holdings in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Atlassian during the second quarter worth $36,000. True Wealth Design LLC boosted its position in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the period. GAMMA Investing LLC grew its stake 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. Finally, Reston Wealth Management LLC purchased a new stake in shares of Atlassian in the 3rd quarter valued at $48,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Mizuho boosted their target price on shares of Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Truist Financial increased their target price on shares of Atlassian from $200.00 to $250.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. UBS Group lifted their price target on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley increased their price target on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Canaccord Genuity Group boosted their price objective on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $258.00.

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.