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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $254.95, for a total value of $2,026,342.60. Following the completion of the transaction, the chief executive officer now directly owns 460,984 shares of the company’s stock, valued at $117,527,870.80. This trade represents a 1.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 value of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 shares were 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 stock was 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 shares were sold at an average price of $278.20, for a total value 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 value 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.

Atlassian Price Performance

TEAM traded down $6.78 on Tuesday, hitting $247.85. 1,599,275 shares of the stock were exchanged, compared to its average volume of 2,101,836. The firm has a market capitalization of $64.55 billion, a price-to-earnings ratio of -163.06 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. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $287.97. The business has a 50-day moving average of $250.65 and a two-hundred day moving average of $197.58.

Atlassian (NASDAQ:TEAM) last posted 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business posted ($0.07) EPS. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. Sell-side analysts forecast that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Institutional Trading of Atlassian

A number of institutional investors have recently bought and sold shares of the company. Baillie Gifford & Co. raised its holdings in shares of Atlassian by 0.9% during the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after purchasing an additional 78,454 shares during the period. State Street Corp raised its stake in Atlassian by 0.3% during the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after buying an additional 8,957 shares during the period. Dragoneer Investment Group LLC bought a new position in Atlassian in the second quarter worth approximately $469,803,000. JPMorgan Chase & Co. grew its stake in Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after acquiring an additional 131,621 shares during the period. Finally, FMR LLC increased its holdings in shares of Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after acquiring an additional 150,237 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on TEAM shares. Macquarie initiated coverage on shares of Atlassian in a research note on Thursday, December 12th. They set a “neutral” rating and a $290.00 price target for the company. Robert W. Baird boosted their price target on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Mizuho increased their price objective on Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Truist Financial raised Atlassian from a “hold” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a report on Tuesday. Finally, Wells Fargo & Company upped their target price on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Nine investment 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, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $264.25.

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.