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 company’s stock in a transaction on Wednesday, April 9th. The shares were sold at an average price of $195.56, for a total transaction of $1,554,310.88. Following the sale, the chief executive officer now directly owns 317,920 shares in the company, valued at $62,172,435.20. This trade represents a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, April 4th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.28, for a total value of $1,496,449.44.
• On Wednesday, April 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.68, for a total value of $1,769,860.64.
• On Monday, March 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $209.73, for a total value of $1,666,934.04.
• On Friday, March 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.63, for a total transaction of $1,721,775.24.
• On Thursday, March 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $226.93, for a total transaction of $1,803,639.64.
• On Tuesday, March 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.90, for a total transaction of $1,723,921.20.
• On Wednesday, March 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $227.55, for a total value of $1,808,567.40.
• On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $259.69, for a total value of $2,064,016.12.
• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $297.51, for a total value of $2,364,609.48.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $313.95, for a total value of $2,495,274.60.

Atlassian Trading Up 0.2 %

Shares of Atlassian stock opened at $198.37 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $51.97 billion, a P/E ratio of -148.04 and a beta of 1.07. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The stock’s 50-day simple moving average is $251.13 and its 200 day simple moving average is $241.25.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Large investors have recently made changes to their positions in the stock. Corebridge Financial Inc. lifted its holdings in Atlassian by 0.3% during the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company’s stock worth $2,555,000 after purchasing an additional 35 shares in the last quarter. GeoWealth Management LLC lifted its holdings in shares of Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company’s stock worth $44,000 after buying an additional 38 shares in the last quarter. Assetmark Inc. boosted its position in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after acquiring an additional 41 shares during the period. Allworth Financial LP grew its stake in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares in the last quarter. Finally, True Wealth Design LLC increased its holdings in Atlassian by 21.6% during the 4th quarter. True Wealth Design LLC now owns 282 shares of the technology company’s stock worth $69,000 after acquiring an additional 50 shares during the period. 94.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on TEAM shares. The Goldman Sachs Group boosted their price target on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Barclays boosted their target price on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Citigroup lifted their price target on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $297.50.

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.