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 stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $182.45, for a total value of $1,503,570.45. Following the transaction, the chief executive officer now owns 300,522 shares in the company, valued at approximately $54,830,238.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $172.99, for a total value of $1,425,610.59.
• On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.95, for a total transaction of $1,474,726.95.
• On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $191.53, for a total transaction of $1,578,398.73.
• On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.26, for a total value of $1,617,378.66.
• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.46, for a total value of $1,627,267.86.
• On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $201.81, for a total transaction of $1,663,116.21.
• On Monday, April 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.71, for a total transaction of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.25, for a total value of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $195.98, for a total transaction of $1,615,071.18.
• On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $193.55, for a total transaction of $1,595,045.55.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded up $2.35 on Tuesday, reaching $184.12. The company’s stock had a trading volume of 1,337,096 shares, compared to its average volume of 1,763,811. Atlassian Co. has a 52-week low of $128.02 and a 52-week high of $258.69. The stock’s 50-day moving average is $196.77 and its two-hundred day moving average is $205.99. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $47.93 billion, a P/E ratio of -292.71 and a beta of 0.67.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. Atlassian’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period last year, the firm posted ($0.40) EPS. As a group, sell-side analysts forecast that Atlassian Co. will post -0.29 EPS for the current year.

Analyst Ratings Changes

TEAM has been the subject of several recent analyst reports. Robert W. Baird cut their target price on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Citigroup dropped their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Wells Fargo & Company upped their price objective on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. TD Cowen decreased their price target on Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Finally, Piper Sandler dropped their price objective on Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $223.22.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently bought and sold shares of TEAM. Graypoint LLC raised its stake in shares of Atlassian by 2.4% during the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after buying an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC raised its holdings in Atlassian by 1.4% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock valued at $736,000 after acquiring an additional 43 shares during the last quarter. Park National Corp OH lifted its stake in shares of Atlassian by 3.5% during the 4th quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after purchasing an additional 48 shares during the period. First Trust Direct Indexing L.P. grew its position in shares of Atlassian by 1.5% in the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after purchasing an additional 55 shares during the period. Finally, UMB Bank n.a. lifted its position in Atlassian by 5.7% during the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after buying an additional 56 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.