Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 8,241 Shares

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $192.21, for a total value of $1,584,002.61. Following the transaction, the chief executive officer now owns 24,723 shares of the company’s stock, valued at $4,752,007.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, March 20th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $195.12, for a total value of $1,607,983.92.
• On Friday, March 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.83, for a total value of $1,630,317.03.
• On Wednesday, March 13th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $210.65, for a total value of $1,735,966.65.
• On Thursday, March 7th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $200.73, for a total value of $1,654,215.93.
• On Tuesday, March 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.31, for a total value of $1,617,790.71.
• On Wednesday, February 28th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $206.42, for a total value of $1,701,107.22.
• On Thursday, February 22nd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $205.80, for a total value of $1,695,997.80.
• On Friday, February 16th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $209.72, for a total value of $1,728,302.52.
• On Wednesday, February 14th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $213.14, for a total value of $1,756,486.74.
• On Thursday, February 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $213.49, for a total value of $1,759,371.09.

Atlassian Price Performance

Atlassian stock opened at $193.14 on Thursday. The business’s 50-day simple moving average is $214.94 and its 200 day simple moving average is $207.04. The stock has a market cap of $50.10 billion, a price-to-earnings ratio of -129.62 and a beta of 0.64. Atlassian Co. has a 12-month low of $128.02 and a 12-month high of $258.69. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. As a group, research analysts anticipate that Atlassian Co. will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Atlassian by 29.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 201,552 shares of the technology company’s stock worth $59,233,000 after buying an additional 46,418 shares during the period. Cetera Investment Advisers increased its stake in Atlassian by 6.0% in the first quarter. Cetera Investment Advisers now owns 1,755 shares of the technology company’s stock valued at $516,000 after purchasing an additional 100 shares in the last quarter. Baird Financial Group Inc. raised its holdings in Atlassian by 7.9% in the first quarter. Baird Financial Group Inc. now owns 115,967 shares of the technology company’s stock worth $34,075,000 after purchasing an additional 8,491 shares during the period. Pearl River Capital LLC bought a new position in shares of Atlassian during the first quarter worth $1,163,000. Finally, USS Investment Management Ltd acquired a new position in shares of Atlassian in the 1st quarter valued at $6,015,000. Institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group dropped their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Wells Fargo & Company increased their price objective on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Citigroup increased their price objective on Atlassian from $215.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. William Blair reiterated an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. Finally, Capital One Financial assumed coverage on Atlassian in a research note on Monday, December 18th. They set an “equal weight” rating and a $238.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Atlassian currently has a consensus rating of “Hold” and an average target price of $225.19.

About Atlassian

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.