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 company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $133.66, for a total transaction of $1,024,503.90. Following the transaction, the chief executive officer directly owned 398,580 shares of the company’s stock, valued at approximately $53,274,202.80. This represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, January 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.15, for a total transaction of $1,127,904.75.
• On Friday, January 9th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $145.91, for a total transaction of $1,118,400.15.
• On Wednesday, January 7th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.11, for a total transaction of $1,234,908.15.
• On Monday, January 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $154.20, for a total transaction of $1,181,943.00.
• On Friday, January 2nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $156.15, for a total value of $1,196,889.75.
• On Wednesday, December 31st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.68, for a total value of $1,246,942.20.
• On Monday, December 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.66, for a total value of $1,254,453.90.
• 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 shares were sold at an average price of $162.40, for a total value of $1,244,796.00.
• On Tuesday, December 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.30, for a total value of $1,236,364.50.

Atlassian Trading Down 2.7%

TEAM traded down $3.51 on Thursday, reaching $128.45. 4,629,087 shares of the company’s stock were exchanged, compared to its average volume of 3,659,400. Atlassian Corporation PLC has a twelve month low of $127.71 and a twelve month high of $326.00. The company’s 50 day moving average is $155.18 and its 200-day moving average is $168.02. 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 company has a market cap of $33.80 billion, a price-to-earnings ratio of -180.91, a PEG ratio of 21.35 and a beta of 0.88.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data 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. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. Atlassian’s revenue for the quarter was up 20.6% on a year-over-year basis. Equities analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

TEAM has been the topic of several research reports. Mizuho raised their price objective on Atlassian from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. KeyCorp dropped their target price on Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, October 23rd. UBS Group reduced their price target on Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Truist Financial set a $210.00 price objective on shares of Atlassian in a research report on Friday, October 31st. Finally, Citigroup reissued a “buy” rating on shares of Atlassian in a research report on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $238.46.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Atlassian by 6.0% during the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock worth $2,951,186,000 after purchasing an additional 1,049,483 shares during the period. Artisan Partners Limited Partnership grew its holdings in Atlassian by 66.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after buying an additional 1,545,546 shares in the last quarter. State Street Corp increased its holdings in shares of Atlassian by 1.9% during the third quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock valued at $617,719,000 after purchasing an additional 73,014 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Atlassian by 18.7% during the 3rd 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 buying an additional 451,706 shares in the last quarter. Finally, DNB Asset Management AS lifted its position 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 worth $448,260,000 after purchasing an additional 2,041,210 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

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.