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

Posted by Brian Wu on Sep 18th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $165.03, for a total transaction of $1,311,658.44. Following the completion of the sale, the chief executive officer now owns 79,480 shares of the company’s stock, valued at $13,116,584.40. 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, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $160.97, for a total transaction of $1,279,389.56.
On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $166.36, for a total value of $1,322,229.28.
On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $156.92, for a total value of $1,247,200.16.
On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $151.62, for a total value of $1,205,075.76.
On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $141.23, for a total value of $1,122,496.04.
On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $144.73, for a total transaction of $1,150,314.04.
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 shares were 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.

Atlassian Trading Down 5.6 %

NASDAQ TEAM opened at $155.82 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The stock has a market capitalization of $40.56 billion, a PE ratio of -247.33 and a beta of 0.73. The firm has a 50 day moving average of $162.94 and a two-hundred day moving average of $176.05.

Atlassian (NASDAQ:TEAM – Get Free Report) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business posted ($0.21) EPS. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, research analysts expect that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TEAM. Asset Dedication LLC boosted its holdings in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Hollencrest Capital Management boosted its holdings in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares in the last quarter. Trust Co. of Vermont boosted its holdings in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after buying an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Atlassian in the 2nd quarter valued at $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Atlassian in the 1st quarter valued at $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on TEAM shares. Scotiabank decreased their target price on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Truist Financial decreased their target price on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Oppenheimer reduced their price target on shares of Atlassian from $250.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Morgan Stanley reduced their price target on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $217.69.

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About Atlassian

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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.