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 that occurred on Wednesday, November 6th. The stock was sold at an average price of $224.33, for a total value of $1,782,974.84. Following the transaction, the chief executive officer now directly owns 294,076 shares of the company’s stock, valued at approximately $65,970,069.08. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.72, for a total transaction 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.
• On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.64, for a total value of $1,499,310.72.
• 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 shares were 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 value 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 transaction of $1,527,287.68.
• On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $193.70, for a total transaction 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 transaction of $1,490,567.92.
• On Wednesday, October 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $176.27, for a total value of $1,400,993.96.

Atlassian Trading Up 1.6 %

TEAM opened at $237.80 on Friday. The stock has a market capitalization of $61.93 billion, a price-to-earnings ratio of -156.45 and a beta of 0.71. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The company has a 50-day simple moving average of $179.57 and a 200 day simple moving average of $172.63.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm’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) EPS. Analysts predict that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TEAM. Raymond James raised their price objective on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Piper Sandler raised their price target on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. UBS Group raised their target price on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Canaccord Genuity Group upped their price target on shares of Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $243.16.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently modified their holdings of TEAM. Intech Investment Management LLC lifted its position in shares of Atlassian by 90.4% during the 3rd quarter. Intech Investment Management LLC now owns 134,663 shares of the technology company’s stock worth $21,386,000 after buying an additional 63,919 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Atlassian during the third quarter worth about $22,140,000. Commerce Bank lifted its holdings in shares of Atlassian by 1.8% in the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after acquiring an additional 90 shares during the last quarter. Parnassus Investments LLC boosted its stake in shares of Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after purchasing an additional 245,286 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Atlassian in the 3rd quarter valued at approximately $982,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.