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

Posted by Jessica Moore on Oct 22nd, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $192.18, for a total value of $1,527,446.64. Following the completion of the transaction, the chief executive officer now directly owns 389,452 shares of the company’s stock, valued at $74,844,885.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.16, for a total value of $1,527,287.68.
On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $193.70, for a total value of $1,539,527.60.
On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $187.54, for a total value of $1,490,567.92.
On Wednesday, October 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $176.27, for a total value of $1,400,993.96.
On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $159.81, for a total value of $1,270,169.88.
On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total value of $1,282,012.40.
On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 shares were 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 stock was sold at an average price of $165.03, for a total value of $1,311,658.44.

Atlassian Price Performance

TEAM traded up $1.07 on Tuesday, hitting $193.90. 1,286,131 shares of the company’s stock traded hands, compared to its average volume of 1,783,129. The company’s 50 day simple moving average is $165.95 and its 200-day simple moving average is $171.56. The firm has a market cap of $50.42 billion, a price-to-earnings ratio of -168.09 and a beta of 0.73. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

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

Institutional Trading of Atlassian

A number of large investors have recently added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC purchased a new position in shares of Atlassian in the 2nd quarter worth approximately $469,803,000. Price T Rowe Associates Inc. MD boosted its holdings in Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after acquiring an additional 904,138 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Atlassian in the 2nd quarter worth $91,072,000. Quadrature Capital Ltd bought a new position in shares of Atlassian in the 1st quarter worth $55,307,000. Finally, Swedbank AB bought a new position in shares of Atlassian in the 1st quarter worth $50,923,000. Institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of analyst reports. Mizuho increased their price objective on Atlassian from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Canaccord Genuity Group increased their price objective on Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Truist Financial dropped their price objective on Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Raymond James raised Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Tuesday, October 1st. Finally, BMO Capital Markets decreased their target price on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $212.47.

Read Our Latest Report on Atlassian

About Atlassian

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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.