Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells 7,948 Shares of Stock

Posted by Editorial Team on Dec 3rd, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $264.32, for a total transaction of $2,100,815.36. Following the completion of the sale, the chief executive officer now owns 166,908 shares of the company’s stock, valued at approximately $44,117,122.56. The trade was a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was 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 shares were 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 transaction 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 transaction of $1,530,466.88.
On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $188.56, for a total transaction 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 value of $1,527,287.68.

Atlassian Price Performance

NASDAQ TEAM traded up $2.30 during trading on Monday, hitting $265.88. 1,144,204 shares of the stock traded hands, compared to its average volume of 1,862,611. The company has a market capitalization of $69.24 billion, a P/E ratio of -173.41 and a beta of 0.71. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a 50-day simple moving average of $206.56 and a 200-day simple moving average of $179.79. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $269.40.

Atlassian (NASDAQ:TEAM – Get Free Report) last issued its 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 business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Atlassian’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) EPS. As a group, analysts predict that Atlassian Co. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

TEAM has been the subject of several recent research reports. BMO Capital Markets boosted their price objective on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Mizuho boosted their price objective on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Raymond James upped their price target on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Piper Sandler increased their price objective on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group increased their price target on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Check Out Our Latest Stock Report on Atlassian

Institutional Trading of Atlassian

Several large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in Atlassian by 10.0% in the 1st quarter. Tidal Investments LLC now owns 4,085 shares of the technology company’s stock worth $797,000 after purchasing an additional 373 shares during the period. Cetera Investment Advisers grew its position in Atlassian by 167.1% in the first quarter. Cetera Investment Advisers now owns 43,975 shares of the technology company’s stock worth $8,580,000 after acquiring an additional 27,514 shares during the period. Cetera Advisors LLC boosted its position in shares of Atlassian by 202.8% during the first quarter. Cetera Advisors LLC now owns 13,235 shares of the technology company’s stock worth $2,582,000 after buying an additional 8,864 shares during the period. DekaBank Deutsche Girozentrale boosted its position in shares of Atlassian by 8.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 26,612 shares of the technology company’s stock worth $5,117,000 after buying an additional 2,020 shares during the period. Finally, DNB Asset Management AS raised its stake in shares of Atlassian by 5.9% in the second quarter. DNB Asset Management AS now owns 24,278 shares of the technology company’s stock valued at $4,294,000 after acquiring an additional 1,356 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

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.