Michael Cannon-Brookes Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Posted by Elija Maina on Aug 5th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $144.73, for a total transaction of $1,150,314.04. Following the completion of the sale, the chief executive officer now owns 317,920 shares of the company’s stock, valued at approximately $46,012,561.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

On Wednesday, July 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.07, for a total transaction of $1,407,352.36.
On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.65, for a total transaction of $1,411,962.20.
On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $169.47, for a total transaction of $1,346,947.56.
On Monday, July 22nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $175.95, for a total transaction of $1,398,450.60.
On Wednesday, July 17th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $180.42, for a total transaction of $1,433,978.16.
On Monday, July 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $180.11, for a total transaction of $1,431,514.28.
On Wednesday, July 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $173.13, for a total transaction of $1,376,037.24.
On Monday, July 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $182.56, for a total transaction of $1,450,986.88.
On Wednesday, June 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $170.45, for a total transaction of $1,354,736.60.
On Monday, June 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.95, for a total transaction of $1,303,074.60.

Atlassian Price Performance

TEAM traded down $0.83 on Monday, reaching $142.85. The company had a trading volume of 4,175,977 shares, compared to its average volume of 1,762,097. The business has a 50 day simple moving average of $169.60 and a 200 day simple moving average of $191.11. The company has a market cap of $37.18 billion, a price-to-earnings ratio of -228.06 and a beta of 0.74. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69.

Atlassian (NASDAQ:TEAM – Get Free Report) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 18.13%. Atlassian’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the firm posted ($0.21) earnings per share. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Robert W. Baird lowered shares of Atlassian from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $230.00 to $175.00 in a research note on Friday. Morgan Stanley reduced their price target on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating for the company in a research report on Wednesday, July 17th. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and increased their target price for the stock from $200.00 to $230.00 in a research report on Friday. Canaccord Genuity Group cut their target price on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Finally, TD Cowen cut their target price on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Nine analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.25.

View Our Latest Report on Atlassian

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TEAM. Baillie Gifford & Co. raised its stake in shares of Atlassian by 20.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after acquiring an additional 1,511,318 shares in the last quarter. Norges Bank bought a new position in shares of Atlassian in the fourth quarter worth approximately $247,740,000. Price T Rowe Associates Inc. MD boosted its holdings in Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after acquiring an additional 904,138 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Atlassian during the 2nd quarter valued at $91,072,000. Finally, Vanguard Group Inc. increased its position in Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the period. 93.03% of the stock is owned by hedge funds and other institutional investors.

Atlassian Company Profile

(Get Free Report)

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.