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 firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $255.25, for a total value of $2,028,727.00. Following the sale, the chief executive officer now directly owns 31,792 shares of the company’s stock, valued at approximately $8,114,908. This represents a 20.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 stock was sold at an average price of $278.13, for a total value 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 stock was 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 stock was sold at an average price of $264.32, for a total value of $2,100,815.36.
• 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 transaction of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 shares were sold at an average price of $192.56, for a total transaction of $1,530,466.88.

Atlassian Price Performance

NASDAQ:TEAM traded down $2.37 during trading hours on Thursday, reaching $255.12. The company had a trading volume of 903,719 shares, compared to its average volume of 1,872,502. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a 50-day moving average of $241.39 and a two-hundred day moving average of $192.28. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The firm has a market capitalization of $66.44 billion, a PE ratio of -167.84 and a beta of 0.80.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of TEAM. Asset Dedication LLC lifted its position in Atlassian by 229.8% during the 2nd 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. Rothschild Investment LLC acquired a new position in shares of Atlassian during the second quarter worth approximately $36,000. True Wealth Design LLC grew its stake in shares of Atlassian by 23,100.0% during the third 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 last quarter. GAMMA Investing LLC increased its holdings in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new position in Atlassian in the 3rd quarter worth approximately $48,000. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TEAM shares. Wells Fargo & Company upped their target price on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Scotiabank raised their price objective on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Oppenheimer boosted their target price on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Macquarie began coverage on shares of Atlassian in a research note on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective for the company. Finally, Morgan Stanley increased their target price on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Ten equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.00.

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.