Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,782,974.84 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $224.33, for a total transaction of $1,782,974.84. Following the sale, the chief executive officer now directly owns 294,076 shares in the company, valued at $65,970,069.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 transaction 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 transaction of $1,530,466.88.
• On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.64, for a total transaction of $1,499,310.72.
• On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 value of $1,498,674.88.
• On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.18, for a total transaction of $1,527,446.64.
• On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.16, for a total transaction of $1,527,287.68.
• On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $193.70, for a total transaction of $1,539,527.60.
• On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $187.54, for a total transaction of $1,490,567.92.
• On Wednesday, October 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $176.27, for a total transaction of $1,400,993.96.

Atlassian Price Performance

Shares of Atlassian stock traded up $8.39 during midday trading on Thursday, hitting $233.96. 2,702,443 shares of the company were exchanged, compared to its average volume of 1,844,991. The firm has a 50 day simple moving average of $176.79 and a 200-day simple moving average of $171.90. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The firm has a market cap of $60.84 billion, a P/E ratio of -154.70 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s revenue was up 21.5% on a year-over-year basis. During the same period last year, the firm posted ($0.07) EPS. Research analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Mizuho lifted their price target on shares of Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Raymond James lifted their price objective on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Robert W. Baird lifted their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average price target of $243.16.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Atlassian by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after acquiring an additional 221,650 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 during the last quarter. Baillie Gifford & Co. increased its position in shares of Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after acquiring an additional 78,454 shares during the last quarter. Dragoneer Investment Group LLC acquired a new position in Atlassian during the second quarter worth approximately $469,803,000. Finally, Capital International Investors increased its position in Atlassian by 6.3% during the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock worth $475,399,000 after buying an additional 144,117 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

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.