Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells 7,948 Shares of Stock

Posted by Teresa Graham on Nov 8th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $224.33, for a total transaction of $1,782,974.84. Following the transaction, the chief executive officer now owns 294,076 shares of the company’s stock, valued at approximately $65,970,069.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

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 transaction 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 value of $1,499,310.72.
On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.75, for a total value 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 value 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 transaction 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.
On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 shares were 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.

Atlassian Price Performance

TEAM opened at $233.96 on Friday. The business has a 50 day simple moving average of $178.12 and a 200-day simple moving average of $172.33. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM – Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. On average, research analysts anticipate that Atlassian Co. will post -0.58 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TEAM. LMR Partners LLP acquired a new stake in Atlassian during the third quarter valued at approximately $8,814,000. Quest Partners LLC grew its holdings in Atlassian by 18.3% in the 3rd quarter. Quest Partners LLC now owns 2,135 shares of the technology company’s stock worth $339,000 after buying an additional 330 shares in the last quarter. Swiss National Bank boosted its stake in Atlassian by 1.5% during the 3rd quarter. Swiss National Bank now owns 472,867 shares of the technology company’s stock valued at $75,096,000 after purchasing an additional 6,900 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Atlassian by 168.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 10,270 shares of the technology company’s stock valued at $1,631,000 after purchasing an additional 6,440 shares in the last quarter. Finally, Ceera Investments LLC boosted its stake in Atlassian by 6.9% during the 3rd quarter. Ceera Investments LLC now owns 26,928 shares of the technology company’s stock valued at $4,276,000 after purchasing an additional 1,745 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TEAM shares. KeyCorp raised Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective on the stock in a research report on Friday, November 1st. Piper Sandler raised their price target on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and upped their target price for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Scotiabank boosted their price target on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Finally, Mizuho upped their target price on Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $243.16.

Read Our Latest Stock Analysis on TEAM

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.