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 firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $278.20, for a total transaction of $2,211,133.60. Following the completion of the sale, the chief executive officer now directly owns 95,376 shares in the company, valued at approximately $26,533,603.20. This trade represents a 7.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.79, for a total value of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $264.32, for a total value of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $261.73, for a total transaction of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $239.19, for a total transaction of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total value of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.72, for a total value 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 value 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 shares were sold at an average price of $189.75, for a total transaction 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 transaction of $1,498,674.88.

Atlassian Trading Down 0.2 %

Shares of TEAM stock opened at $278.65 on Friday. The stock has a market cap of $72.57 billion, a P/E ratio of -183.32 and a beta of 0.80. 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 fifty-two week low of $135.29 and a fifty-two week high of $287.97. The business has a fifty day simple moving average of $226.93 and a 200-day simple moving average of $185.86.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Asset Dedication LLC increased its position in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after buying an additional 108 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Atlassian during the second quarter valued at approximately $36,000. GAMMA Investing LLC boosted its position in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the last quarter. True Wealth Design LLC grew its stake in Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares during the period. Finally, Reston Wealth Management LLC acquired a new position in Atlassian in the 3rd quarter valued at $48,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TEAM. Oppenheimer raised their price target on Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Mizuho lifted their target price on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird upped their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Wells Fargo & Company lifted their price objective on shares of Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, BMO Capital Markets boosted their price objective on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $256.50.

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.