Michael Cannon-Brookes Sells 8,241 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAMGet Free Report) CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction on Friday, January 26th. The shares were sold at an average price of $247.34, for a total transaction of $2,038,328.94. Following the completion of the sale, the chief executive officer now owns 354,363 shares of the company’s stock, valued at approximately $87,648,144.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

  • On Monday, January 22nd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $247.60, for a total transaction of $2,040,471.60.
  • On Thursday, January 18th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $238.95, for a total transaction of $1,969,186.95.
  • On Friday, January 12th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $237.84, for a total transaction of $1,960,039.44.
  • On Wednesday, January 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $242.95, for a total transaction of $2,002,150.95.
  • On Monday, January 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $234.45, for a total transaction of $1,932,102.45.
  • On Tuesday, January 2nd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $227.19, for a total transaction of $1,872,272.79.
  • On Tuesday, December 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $245.03, for a total transaction of $2,019,292.23.
  • On Friday, December 22nd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $241.80, for a total transaction of $1,992,673.80.
  • On Wednesday, December 20th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $237.16, for a total transaction of $1,954,435.56.
  • On Monday, December 18th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $229.23, for a total transaction of $1,889,084.43.

Atlassian Trading Up 0.7 %

Shares of TEAM opened at $257.43 on Wednesday. The business’s 50-day moving average price is $223.49 and its 200-day moving average price is $201.87. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69. The stock has a market cap of $66.43 billion, a PE ratio of -131.34 and a beta of 0.71. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 1.23.

Atlassian (NASDAQ:TEAMGet Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. Atlassian had a negative return on equity of 50.61% and a negative net margin of 13.63%. The firm had revenue of $977.78 million for the quarter, compared to analysts’ expectations of $961.59 million. On average, equities analysts forecast that Atlassian Co. will post -0.27 EPS for the current fiscal year.

Analyst Ratings Changes

TEAM has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of Atlassian from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Wells Fargo & Company boosted their price target on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Mizuho boosted their price target on shares of Atlassian from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Truist Financial boosted their price target on shares of Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a report on Tuesday, January 16th. Finally, Scotiabank began coverage on shares of Atlassian in a report on Friday, December 1st. They issued a “sector perform” rating and a $185.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.82.

View Our Latest Research Report on TEAM

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio purchased a new stake in Atlassian in the second quarter valued at approximately $6,919,000. Franklin Resources Inc. raised its stake in Atlassian by 1.1% in the second quarter. Franklin Resources Inc. now owns 2,178,799 shares of the technology company’s stock valued at $365,624,000 after purchasing an additional 23,452 shares in the last quarter. Achmea Investment Management B.V. raised its stake in Atlassian by 51.9% in the second quarter. Achmea Investment Management B.V. now owns 25,256 shares of the technology company’s stock valued at $4,239,000 after purchasing an additional 8,628 shares in the last quarter. CWM LLC raised its stake in Atlassian by 75.1% in the second quarter. CWM LLC now owns 1,257 shares of the technology company’s stock valued at $211,000 after purchasing an additional 539 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its stake in Atlassian by 3.7% in the third quarter. IFM Investors Pty Ltd now owns 29,967 shares of the technology company’s stock valued at $6,039,000 after purchasing an additional 1,081 shares in the last quarter. 53.36% of the stock is currently owned by institutional investors.

About Atlassian

(Get Free Report)

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.

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