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 dated Monday, October 28th. The shares were sold at an average price of $188.64, for a total value of $1,499,310.72. Following the completion of the transaction, the chief executive officer now owns 349,712 shares in the company, valued at $65,969,671.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.75, for a total value of $1,508,133.00.
• On Wednesday, October 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.56, for a total value of $1,498,674.88.
• On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.18, for a total transaction of $1,527,446.64.
• On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.16, for a total value of $1,527,287.68.
• On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $193.70, for a total value of $1,539,527.60.
• On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $187.54, for a total value of $1,490,567.92.
• On Wednesday, October 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $176.27, for a total transaction of $1,400,993.96.
• On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $159.81, for a total transaction of $1,270,169.88.
• 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 transaction of $1,282,012.40.
• On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.98, for a total transaction of $1,287,417.04.

Atlassian Price Performance

Shares of TEAM stock opened at $191.74 on Wednesday. The firm has a fifty day moving average of $170.01 and a two-hundred day moving average of $171.08. The firm has a market cap of $49.91 billion, a P/E ratio of -304.35 and a beta of 0.73. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management lifted its stake in Atlassian by 383.9% during 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. Asset Dedication LLC lifted its position in shares of 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 buying an additional 108 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after buying an additional 174 shares during the period. Rothschild Investment LLC bought a new stake in shares of Atlassian during the 2nd quarter valued at about $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Atlassian during the first quarter worth about $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays cut their price objective 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 upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a report on Tuesday, October 1st. BMO Capital Markets dropped their price objective on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Mizuho lifted their target price on Atlassian from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, JMP Securities upgraded Atlassian to a “hold” rating in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have issued 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 $212.47.

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.