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 Atlassian stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $162.27, for a total transaction of $1,289,721.96. Following the sale, the chief executive officer now owns 39,740 shares in the company, valued at approximately $6,448,609.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 stock was 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 shares were sold at an average price of $160.97, for a total value 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 stock was sold at an average price of $156.92, for a total value 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 value of $1,205,075.76.
• On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $144.73, for a total value of $1,150,314.04.
• On Wednesday, July 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.07, for a total transaction of $1,407,352.36.
• On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.65, for a total value of $1,411,962.20.

Atlassian Stock Performance

Shares of TEAM stock traded up $0.64 during trading on Tuesday, reaching $162.62. 2,233,016 shares of the company’s stock were exchanged, compared to its average volume of 1,787,297. The stock has a market capitalization of $42.33 billion, a PE ratio of -257.11 and a beta of 0.73. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The firm’s fifty day moving average price is $161.63 and its 200-day moving average price is $174.94.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.21) earnings per share. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.58 EPS for the current year.

Institutional Trading of Atlassian

A number of institutional investors have recently bought and sold shares of the business. First Trust Direct Indexing L.P. raised its holdings in Atlassian by 1.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after acquiring an additional 55 shares in the last quarter. Park National Corp OH boosted its stake in shares of Atlassian by 4.0% in the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock valued at $292,000 after purchasing an additional 58 shares in the last quarter. Financial Advocates Investment Management lifted its stake in shares of Atlassian by 1.7% in the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after acquiring an additional 62 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Atlassian by 1.4% during the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after purchasing an additional 65 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Atlassian by 6.8% during the 1st quarter. UMB Bank n.a. now owns 1,112 shares of the technology company’s stock worth $217,000 after acquiring an additional 71 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TEAM. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Morgan Stanley cut their target price on Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Mizuho lowered their price objective on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. JMP Securities upgraded shares of Atlassian to a “hold” rating in a report on Friday, August 2nd. Finally, Truist Financial decreased their target price on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target 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.