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 business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $159.81, for a total value of $1,270,169.88. Following the completion of the transaction, the chief executive officer now owns 500,724 shares in the company, valued at approximately $80,020,702.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• 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 value of $1,282,012.40.
• On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.98, for a total value 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 transaction of $1,289,721.96.
• On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.56, for a total transaction 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 transaction 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 value 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 value of $1,247,200.16.
• On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 shares were sold at an average price of $141.23, for a total transaction of $1,122,496.04.

Atlassian Price Performance

Shares of NASDAQ TEAM traded down $1.18 during trading hours on Wednesday, reaching $160.24. 926,479 shares of the stock traded hands, compared to its average volume of 1,779,088. The company has a market capitalization of $41.67 billion, a P/E ratio of -256.22 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 company’s 50-day simple moving average is $159.70 and its two-hundred day simple moving average is $172.99. 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 (NASDAQ:TEAM) last released 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 analyst estimates of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.21) EPS. Equities research analysts forecast that Atlassian Co. will post -0.58 EPS for the current year.

Analyst Upgrades and Downgrades

TEAM has been the topic of several research reports. Truist Financial lowered their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Barclays lowered their target price 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. Raymond James raised Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a report on Tuesday. Robert W. Baird lowered Atlassian from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $230.00 to $175.00 in a research note on Friday, August 2nd. Finally, Wells Fargo & Company cut their target price on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $216.65.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently modified their holdings of TEAM. Asset Dedication LLC increased its stake in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the period. Hollencrest Capital Management grew its holdings in shares of Atlassian by 383.9% in the first 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 last quarter. Trust Co. of Vermont increased its stake in shares of Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares during the period. Rothschild Investment LLC bought a new stake in Atlassian during the 2nd quarter valued at $36,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Atlassian during the 1st quarter valued at $40,000. Institutional investors own 93.03% of the company’s stock.

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.