Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,028,727.00 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $255.25, for a total value of $2,028,727.00. Following the completion of the transaction, the chief executive officer now owns 31,792 shares in the company, valued at approximately $8,114,908. This trade represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 transaction of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.13, for a total transaction 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.
• 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 stock was 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 shares were 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 shares were 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 transaction of $1,782,974.84.
• 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 value of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.56, for a total value of $1,530,466.88.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded down $2.37 during trading hours on Thursday, hitting $255.12. The stock had a trading volume of 903,719 shares, compared to its average volume of 1,872,502. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The stock’s fifty day simple moving average is $241.39 and its 200 day simple moving average is $192.28. The firm has a market capitalization of $66.44 billion, a price-to-earnings ratio of -167.84 and a beta of 0.80. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $287.97.

Atlassian (NASDAQ:TEAM) last announced 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. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.07) EPS. Sell-side analysts anticipate that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Several large investors have recently bought and sold shares of TEAM. Dragoneer Investment Group LLC bought a new stake in shares of Atlassian in the 2nd quarter worth $469,803,000. Point72 Asset Management L.P. raised its position in Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after acquiring an additional 617,566 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after acquiring an additional 551,500 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Atlassian during the 3rd quarter valued at about $57,149,000. Finally, Parnassus Investments LLC grew 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 worth $51,016,000 after purchasing an additional 245,286 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on TEAM shares. Raymond James upped their target price on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Mizuho increased their price objective on shares of Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. KeyCorp boosted their target price on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Truist Financial increased their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Finally, Oppenheimer boosted their price objective on Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $258.00.

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.