Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,474,562.13 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $178.93, for a total transaction of $1,474,562.13. Following the transaction, the chief executive officer now directly owns 284,040 shares in the company, valued at $50,823,277.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, May 6th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $182.45, for a total transaction of $1,503,570.45.
• On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $172.99, for a total value of $1,425,610.59.
• On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $178.95, for a total transaction of $1,474,726.95.
• On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $191.53, for a total value of $1,578,398.73.
• On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.26, for a total value of $1,617,378.66.
• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.46, for a total transaction of $1,627,267.86.
• On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $201.81, for a total value of $1,663,116.21.
• On Monday, April 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.71, for a total transaction of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.25, for a total value of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $195.98, for a total value of $1,615,071.18.

Atlassian Price Performance

TEAM traded up $1.33 during trading on Thursday, reaching $179.85. 776,765 shares of the stock were exchanged, compared to its average volume of 1,746,314. Atlassian Co. has a 1 year low of $132.32 and a 1 year high of $258.69. The company has a market capitalization of $46.81 billion, a price-to-earnings ratio of -285.48 and a beta of 0.67. The business’s 50 day moving average price is $195.77 and its two-hundred day moving average price is $205.78. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company’s revenue was up 29.9% on a year-over-year basis. During the same period last year, the company posted ($0.40) EPS. As a group, equities research analysts anticipate that Atlassian Co. will post -0.29 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the topic of a number of research analyst reports. Truist Financial cut their price objective on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, April 26th. KeyCorp assumed coverage on shares of Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating for the company. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. Oppenheimer cut their price target on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, TD Cowen decreased their price objective on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a report on Friday, April 26th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $223.22.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in Atlassian during the third quarter worth approximately $26,000. Hollencrest Capital Management boosted its holdings in shares of 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. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Atlassian in the first quarter valued at $40,000. Carmel Capital Partners LLC lifted its position in Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after buying an additional 271 shares during the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

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.