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 Atlassian stock in a transaction on Monday, January 6th. The stock was sold at an average price of $254.95, for a total transaction of $2,026,342.60. Following the transaction, the chief executive officer now directly owns 460,984 shares in the company, valued at $117,527,870.80. This represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $243.35, for a total value of $1,934,145.80.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $242.27, for a total value of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $246.97, for a total value of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.45, for a total transaction of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.25, for a total transaction of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.22, for a total value of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.13, for a total transaction of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.20, for a total transaction of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.79, for a total value of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $264.32, for a total value of $2,100,815.36.

Atlassian Trading Down 1.4 %

Shares of TEAM stock opened at $244.49 on Friday. The business has a 50-day moving average of $252.85 and a 200 day moving average of $198.51. 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 Co. has a 1-year low of $135.29 and a 1-year high of $287.97. The stock has a market capitalization of $63.67 billion, a PE ratio of -160.85 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business earned ($0.07) earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.54 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently modified their holdings of the company. National Bank of Canada FI raised its position in Atlassian by 21.6% during the 2nd quarter. National Bank of Canada FI now owns 1,156 shares of the technology company’s stock valued at $206,000 after purchasing an additional 205 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Atlassian by 1.3% during the second quarter. Victory Capital Management Inc. now owns 131,837 shares of the technology company’s stock valued at $23,319,000 after acquiring an additional 1,662 shares in the last quarter. Candriam S.C.A. lifted its stake in Atlassian by 11.7% in the second quarter. Candriam S.C.A. now owns 9,848 shares of the technology company’s stock worth $1,742,000 after acquiring an additional 1,029 shares during the period. Asset Dedication LLC boosted its holdings in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares in the last quarter. Finally, Custom Index Systems LLC increased its position in Atlassian by 17.0% during the 2nd quarter. Custom Index Systems LLC now owns 2,322 shares of the technology company’s stock valued at $411,000 after purchasing an additional 337 shares during the period. 94.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TEAM. Oppenheimer upped their price target on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday. KeyCorp upped their target price on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Canaccord Genuity Group raised their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. UBS Group upped their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird lifted their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $264.25.

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.