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 company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $254.95, for a total transaction of $2,026,342.60. Following the transaction, the chief executive officer now owns 460,984 shares of the company’s stock, valued at approximately $117,527,870.80. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $243.35, for a total transaction of $1,934,145.80.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $242.27, for a total value of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $246.97, for a total value of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.45, for a total value of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.25, for a total transaction of $2,028,727.00.
• 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 transaction 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 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 transaction of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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.

Atlassian Stock Performance

Shares of Atlassian stock opened at $244.49 on Thursday. The firm has a fifty day moving average of $251.77 and a two-hundred day moving average of $198.18. 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 stock has a market capitalization of $63.67 billion, a price-to-earnings ratio of -160.85 and a beta of 0.83. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97.

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

Institutional Investors Weigh In On Atlassian

Large investors have recently bought and sold shares of the company. Dragoneer Investment Group LLC acquired a new position in shares of Atlassian in the 2nd quarter valued at $469,803,000. Point72 Asset Management L.P. lifted its holdings in Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after acquiring an additional 617,566 shares in the last quarter. Two Sigma Advisers LP grew its stake in Atlassian by 122.0% in the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after acquiring an additional 551,500 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of Atlassian in the third quarter worth about $57,149,000. Finally, Parnassus Investments LLC raised its position in shares of Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares during the period. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TEAM. Morgan Stanley lifted their price objective on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Macquarie began coverage on shares of Atlassian in a research report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price target on the stock. Oppenheimer raised their price objective on shares of Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday. Canaccord Genuity Group boosted their target price on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Finally, Mizuho raised their price target on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Nine analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $264.25.

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.