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

Atlassian Co. (NASDAQ:TEAMGet Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $163.95, for a total transaction of $1,303,074.60. Following the completion of the sale, the chief executive officer now owns 31,792 shares of the company’s stock, valued at approximately $5,212,298.40. The transaction 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, June 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $159.43, for a total transaction of $1,267,149.64.
  • On Wednesday, June 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.54, for a total value of $1,299,815.92.
  • On Tuesday, May 28th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $165.51, for a total transaction of $1,363,967.91.
  • On Tuesday, May 21st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.45, for a total transaction of $1,470,606.45.
  • On Tuesday, May 14th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $184.26, for a total value of $1,518,486.66.
  • On Friday, May 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $179.88, for a total value of $1,482,391.08.
  • On Wednesday, May 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.93, for a total value of $1,474,562.13.
  • On Monday, May 6th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $182.45, for a total value of $1,503,570.45.
  • On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $172.99, for a total transaction 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 value of $1,474,726.95.

Atlassian Price Performance

Shares of NASDAQ TEAM traded up $3.01 during trading on Tuesday, hitting $167.76. The company had a trading volume of 858,283 shares, compared to its average volume of 1,752,232. Atlassian Co. has a fifty-two week low of $152.34 and a fifty-two week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The stock has a fifty day simple moving average of $173.97 and a two-hundred day simple moving average of $202.28. The firm has a market capitalization of $43.67 billion, a price-to-earnings ratio of -265.37 and a beta of 0.73.

Atlassian (NASDAQ:TEAMGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the firm posted ($0.40) EPS. Atlassian’s revenue was up 29.9% compared to the same quarter last year. On average, research analysts expect that Atlassian Co. will post -0.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TEAM. Canaccord Genuity Group decreased their price objective on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Wells Fargo & Company decreased their target price on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday. KeyCorp initiated coverage on Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Oppenheimer reduced their price objective on Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Finally, StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $221.28.

Read Our Latest Stock Report on TEAM

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale boosted its stake in Atlassian by 8.2% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 26,612 shares of the technology company’s stock worth $5,117,000 after purchasing an additional 2,020 shares during the last quarter. Cetera Advisors LLC lifted its stake in shares of Atlassian by 202.8% in the first quarter. Cetera Advisors LLC now owns 13,235 shares of the technology company’s stock worth $2,582,000 after buying an additional 8,864 shares in the last quarter. Cetera Investment Advisers grew its stake in Atlassian by 167.1% during the 1st quarter. Cetera Investment Advisers now owns 43,975 shares of the technology company’s stock valued at $8,580,000 after acquiring an additional 27,514 shares in the last quarter. PGGM Investments acquired a new stake in Atlassian in the 1st quarter valued at about $364,000. Finally, Burney Co. purchased a new position in Atlassian in the 1st quarter worth approximately $1,095,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Atlassian Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Atlassian (NASDAQ:TEAM)

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