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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $243.35, for a total transaction of $1,934,145.80. Following the transaction, the chief executive officer now owns 445,088 shares in the company, valued at approximately $108,312,164.80. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $254.95, for a total transaction of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $242.27, for a total transaction 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 transaction 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 value 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 value 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 stock was 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 shares were sold at an average price of $278.79, for a total transaction 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 Stock Performance

Shares of NASDAQ TEAM opened at $244.49 on Thursday. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $287.97. The stock has a 50 day moving average of $251.77 and a 200-day moving average of $198.18. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $63.67 billion, a P/E ratio of -160.85 and a beta of 0.83.

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

Analyst Ratings Changes

TEAM has been the subject of several research analyst reports. Canaccord Genuity Group boosted their price objective on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Macquarie began coverage on shares of Atlassian in a report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price objective on the stock. Morgan Stanley upped their target price on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. KeyCorp lifted their price target on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, BMO Capital Markets upped their price objective on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.25.

Hedge Funds Weigh In On Atlassian

Institutional investors and hedge funds have recently made changes to their positions in the company. National Bank of Canada FI boosted its holdings in Atlassian by 21.6% in 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 period. Victory Capital Management Inc. boosted its stake in shares of Atlassian by 1.3% in the second quarter. Victory Capital Management Inc. now owns 131,837 shares of the technology company’s stock valued at $23,319,000 after buying an additional 1,662 shares during the period. Candriam S.C.A. boosted its stake in shares of Atlassian by 11.7% in the second quarter. Candriam S.C.A. now owns 9,848 shares of the technology company’s stock valued at $1,742,000 after buying an additional 1,029 shares during the period. Asset Dedication LLC grew its position in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after buying an additional 108 shares in the last quarter. Finally, Oak Thistle LLC raised its holdings in Atlassian by 42.9% in the 2nd quarter. Oak Thistle LLC now owns 1,858 shares of the technology company’s stock valued at $329,000 after acquiring an additional 558 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.