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

Posted by Scott Moore on Oct 2nd, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $161.30, for a total transaction of $1,282,012.40. Following the transaction, the chief executive officer now directly owns 7,948 shares in the company, valued at approximately $1,282,012.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.98, for a total value of $1,287,417.04.
On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.27, for a total value of $1,289,721.96.
On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.56, for a total value of $1,299,974.88.
On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $165.03, for a total transaction of $1,311,658.44.
On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.97, for a total transaction of $1,279,389.56.
On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $166.36, for a total transaction of $1,322,229.28.
On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $156.92, for a total transaction of $1,247,200.16.
On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $151.62, for a total value of $1,205,075.76.
On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $141.23, for a total value of $1,122,496.04.
On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $144.73, for a total value of $1,150,314.04.

Atlassian Stock Performance

Shares of TEAM stock opened at $161.42 on Wednesday. The company has a market cap of $41.97 billion, a P/E ratio of -252.08 and a beta of 0.73. The business has a 50 day moving average of $159.98 and a two-hundred day moving average of $173.22. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm’s revenue was up 20.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.21) EPS. As a group, analysts anticipate that Atlassian Co. will post -0.58 EPS for the current year.

Institutional Trading of Atlassian

Several hedge funds have recently bought and sold shares of TEAM. Asset Dedication LLC increased its stake in shares of 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 purchasing an additional 108 shares during the period. Hollencrest Capital Management raised its stake in Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares in the last quarter. Trust Co. of Vermont boosted its position in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares during the period. Rothschild Investment LLC bought a new position in shares of Atlassian in the second quarter worth $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Atlassian during the first quarter valued at $40,000. 93.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TEAM has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Mizuho decreased their price objective on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Barclays reduced their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Truist Financial dropped their price objective on Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $216.65.

Check Out Our Latest Research Report on Atlassian

Atlassian Company Profile

(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.