Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,354,736.60 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $170.45, for a total value of $1,354,736.60. Following the completion of the sale, the chief executive officer now owns 15,896 shares in the company, valued at approximately $2,709,473.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, June 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.95, for a total transaction of $1,303,074.60.
• On Friday, June 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $159.43, for a total transaction of $1,267,149.64.
• On Wednesday, June 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.54, for a total transaction of $1,299,815.92.
• On Tuesday, May 28th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $165.51, for a total value of $1,363,967.91.
• On Tuesday, May 21st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.45, for a total value of $1,470,606.45.
• On Tuesday, May 14th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $184.26, for a total value of $1,518,486.66.
• On Friday, May 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $179.88, for a total transaction of $1,482,391.08.
• On Wednesday, May 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.93, for a total transaction of $1,474,562.13.
• On Monday, May 6th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $182.45, for a total transaction of $1,503,570.45.
• On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $172.99, for a total value of $1,425,610.59.

Atlassian Stock Up 2.2 %

NASDAQ TEAM opened at $176.88 on Friday. Atlassian Co. has a fifty-two week low of $152.34 and a fifty-two week high of $258.69. The business has a fifty day moving average price of $172.25 and a two-hundred day moving average price of $201.53. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $46.04 billion, a PE ratio of -280.76 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. Atlassian’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.40) EPS. Equities analysts expect that Atlassian Co. will post -0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of institutional investors have recently added to or reduced their stakes in TEAM. Vanguard Group Inc. grew its stake in shares of Atlassian by 1.4% during the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after buying an additional 221,650 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares in the last quarter. WCM Investment Management LLC raised its position in Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after purchasing an additional 249,017 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of Atlassian by 20.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares in the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of Atlassian by 7.9% during the fourth quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock worth $826,113,000 after purchasing an additional 255,653 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TEAM shares. Robert W. Baird cut their price objective on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Truist Financial decreased their price objective on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Wells Fargo & Company cut their target price on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. KeyCorp started coverage on shares of Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Finally, StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Friday, June 7th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $225.47.

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.