Atlassian Co. (NASDAQ:TEAM) CEO Sells $3,871,470.80 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 15,896 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the completion of the sale, the chief executive officer now owns 429,192 shares of the company’s stock, valued at $104,529,711.60. This trade represents a 3.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $236.89, for a total transaction of $1,882,801.72.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $243.35, for a total value of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $254.95, for a total value of $2,026,342.60.
• 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 transaction of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.45, for a total transaction of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 stock was sold at an average price of $255.22, for a total value of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.13, for a total value of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.20, for a total value of $2,211,133.60.

Atlassian Trading Up 4.3 %

TEAM stock opened at $246.40 on Wednesday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. The company has a market cap of $64.17 billion, a price-to-earnings ratio of -162.10 and a beta of 0.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The business has a fifty day simple moving average of $255.17 and a 200-day simple moving average of $200.72.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm posted ($0.07) earnings per share. The firm’s revenue was up 21.5% on a year-over-year basis. On average, equities research analysts expect that Atlassian Co. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On Atlassian

Several institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in shares of Atlassian in the 3rd quarter valued at $606,000. Sequoia Financial Advisors LLC increased its holdings in Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares in the last quarter. Fulton Bank N.A. purchased a new position in Atlassian in the fourth quarter valued at about $447,000. Paloma Partners Management Co acquired a new position in shares of Atlassian during the third quarter worth about $1,588,000. Finally, Impax Asset Management Group plc boosted its position in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Canaccord Genuity Group boosted their price objective on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Raymond James upped their price target on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group raised their price objective on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Mizuho increased their target price on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Scotiabank raised their price target on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $266.10.

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.