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 the company’s stock in a transaction dated Friday, November 29th. The stock was 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 directly owns 166,908 shares of the company’s stock, valued at $44,117,122.56. The trade was a 4.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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 value of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $239.19, for a total value of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total value of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.72, for a total value of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was 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 shares were 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 stock was 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 shares were sold at an average price of $192.18, for a total value of $1,527,446.64.
• 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.

Atlassian Stock Up 0.9 %

TEAM opened at $268.36 on Wednesday. The company has a market cap of $69.89 billion, a P/E ratio of -176.55 and a beta of 0.80. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $269.40. The business’s 50-day moving average price is $210.75 and its 200-day moving average price is $181.01. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted ($0.07) earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. On average, equities analysts expect that Atlassian Co. will post -0.54 EPS for the current year.

Hedge Funds Weigh In On Atlassian

A number of hedge funds have recently modified their holdings of TEAM. Asset Dedication LLC increased its position in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares during the period. Trust Co. of Vermont grew its holdings in shares of 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 2nd quarter worth approximately $36,000. GAMMA Investing LLC raised its position in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares in the last quarter. Finally, True Wealth Design LLC lifted its stake in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on TEAM. Robert W. Baird increased their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. BMO Capital Markets lifted their target price on shares of Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Mizuho boosted their price target on shares of Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Raymond James lifted their price objective on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company increased their price target on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $244.21.

Atlassian Company Profile

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.