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 company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $255.25, for a total value of $2,028,727.00. Following the transaction, the chief executive officer now owns 31,792 shares in the company, valued at $8,114,908. This trade represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.22, for a total value of $2,028,488.56.
• 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 value 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 transaction 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 transaction of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.32, for a total transaction 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 value of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $239.19, for a total value of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total value 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 transaction of $1,530,466.88.

Atlassian Trading Down 1.3 %

Shares of Atlassian stock opened at $254.24 on Friday. The company has a 50-day moving average of $241.39 and a two-hundred day moving average of $192.28. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $287.97. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market cap of $66.21 billion, a PE ratio of -167.26 and a beta of 0.80.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) EPS. On average, research analysts anticipate that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently modified their holdings of TEAM. Financial Advocates Investment Management raised its position in shares of Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after purchasing an additional 62 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its position in shares of Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after acquiring an additional 70 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares in the last quarter. Commerce Bank boosted its stake in shares of Atlassian by 1.8% during the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock valued at $789,000 after acquiring an additional 90 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on TEAM shares. Raymond James boosted their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Piper Sandler boosted their target price on shares of Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Morgan Stanley increased their target price on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Oppenheimer lifted their price target on Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Mizuho increased their price objective on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $258.00.

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.