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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $239.19, for a total value of $1,901,082.12. Following the transaction, the chief executive officer now directly owns 230,492 shares of the company’s stock, valued at approximately $55,131,381.48. This represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 shares were 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 stock was 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 stock was sold at an average price of $189.75, for a total value 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 shares were sold at an average price of $192.18, for a total value of $1,527,446.64.
• On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.16, for a total value of $1,527,287.68.
• On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $193.70, for a total value of $1,539,527.60.
• On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $187.54, for a total transaction of $1,490,567.92.

Atlassian Price Performance

Shares of TEAM traded up $9.04 during trading hours on Tuesday, reaching $247.73. 2,377,212 shares of the stock traded hands, compared to its average volume of 1,868,590. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The company’s 50-day moving average price is $189.47 and its two-hundred day moving average price is $175.00. The company has a market cap of $64.52 billion, a P/E ratio of -161.20 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. On average, analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current year.

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arete Wealth Advisors LLC bought a new stake in Atlassian in the 3rd quarter valued at $269,000. Toronto Dominion Bank increased its holdings in shares of Atlassian by 33.6% in the 3rd quarter. Toronto Dominion Bank now owns 23,034 shares of the technology company’s stock worth $3,658,000 after buying an additional 5,796 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Atlassian by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock worth $340,453,000 after buying an additional 57,911 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Atlassian in the 3rd quarter worth about $3,026,000. Finally, XTX Topco Ltd bought a new stake in shares of Atlassian in the 3rd quarter worth about $3,245,000. 93.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on TEAM shares. Barclays reduced their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. KeyCorp raised shares of Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price for the company in a research note on Friday, November 1st. JMP Securities raised shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Mizuho lifted their target price on shares of Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company lifted their target price on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

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.