Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,138,091.48 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $269.01, for a total transaction of $2,138,091.48. Following the transaction, the chief executive officer now owns 349,712 shares in the company, valued at approximately $94,076,025.12. The trade was a 2.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.33, for a total transaction of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $251.20, for a total transaction of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $236.89, for a total value of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $243.35, for a total value of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 stock was 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 transaction 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.

Atlassian Price Performance

TEAM stock opened at $271.33 on Thursday. The stock has a market cap of $70.66 billion, a price-to-earnings ratio of -178.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company has a 50 day simple moving average of $259.32 and a 200 day simple moving average of $206.76. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $287.97.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business earned ($0.07) earnings per share. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. Research analysts anticipate that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TEAM shares. Robert W. Baird upped their price objective on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Mizuho lifted their price objective on shares of Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Oppenheimer increased their target price on shares of Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Finally, Macquarie initiated coverage on shares of Atlassian in a research report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price target for the company. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $273.19.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of TEAM. Virtu Financial LLC acquired a new stake in shares of Atlassian during the third quarter valued at about $606,000. Sequoia Financial Advisors LLC boosted its position in Atlassian by 37.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after buying an additional 520 shares during the period. Fulton Bank N.A. bought a new stake in Atlassian during the 4th quarter worth approximately $447,000. Paloma Partners Management Co acquired a new position in Atlassian in the 3rd quarter valued at approximately $1,588,000. Finally, Impax Asset Management Group plc raised its stake in shares of Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after acquiring an additional 31,986 shares during 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.