Michael Cannon-Brookes Sells 7,665 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $163.66, for a total value of $1,254,453.90. Following the sale, the chief executive officer owned 15,330 shares in the company, valued at approximately $2,508,907.80. The trade was a 33.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Friday, December 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.53, for a total value of $1,245,792.45.
• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.40, for a total transaction of $1,244,796.00.
• On Tuesday, December 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction of $1,236,364.50.
• On Wednesday, December 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.16, for a total transaction of $1,250,621.40.
• On Monday, December 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.92, for a total transaction of $1,218,121.80.
• On Friday, December 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.11, for a total value of $1,242,573.15.
• On Wednesday, December 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.79, for a total value of $1,240,120.35.
• On Monday, December 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.70, for a total value of $1,231,765.50.
• On Friday, December 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.48, for a total value of $1,230,079.20.
• On Wednesday, December 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total value of $1,188,688.20.

Atlassian Price Performance

Atlassian stock traded up $0.84 during midday trading on Monday, reaching $163.99. 1,252,752 shares of the company were exchanged, compared to its average volume of 2,475,155. The company has a market capitalization of $43.15 billion, a price-to-earnings ratio of -230.97, a P/E/G ratio of 25.27 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The firm’s 50-day simple moving average is $158.22 and its 200-day simple moving average is $171.86. Atlassian Corporation PLC has a 1 year low of $139.70 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.21. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. On average, analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a report on Wednesday, October 8th. Zacks Research upgraded shares of Atlassian from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. UBS Group reduced their price objective on Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Wall Street Zen raised Atlassian from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, Macquarie dropped their target price on Atlassian from $250.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.23.

Hedge Funds Weigh In On Atlassian

Several large investors have recently added to or reduced their stakes in TEAM. Vanguard Group Inc. lifted its position in shares of Atlassian by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock worth $2,951,186,000 after buying an additional 1,049,483 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in Atlassian by 66.3% during the second quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after acquiring an additional 1,545,546 shares during the period. State Street Corp lifted its holdings in Atlassian by 1.9% in the third quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock worth $617,719,000 after acquiring an additional 73,014 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Atlassian by 18.7% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,867,886 shares of the technology company’s stock worth $458,001,000 after acquiring an additional 451,706 shares during the last quarter. Finally, DNB Asset Management AS boosted its stake in Atlassian by 266.6% in the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock valued at $448,260,000 after acquiring an additional 2,041,210 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.