Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,122,496.04 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $141.23, for a total value of $1,122,496.04. Following the transaction, the chief executive officer now owns 278,180 shares of the company’s stock, valued at approximately $39,287,361.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $144.73, for a total value of $1,150,314.04.
• On Wednesday, July 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.07, for a total value of $1,407,352.36.
• On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.65, for a total transaction of $1,411,962.20.
• On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $169.47, for a total transaction of $1,346,947.56.
• On Monday, July 22nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $175.95, for a total transaction of $1,398,450.60.
• On Wednesday, July 17th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $180.42, for a total value of $1,433,978.16.
• On Monday, July 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $180.11, for a total value of $1,431,514.28.
• On Wednesday, July 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $173.13, for a total value of $1,376,037.24.
• On Monday, July 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $182.56, for a total value of $1,450,986.88.
• On Wednesday, June 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $170.45, for a total transaction of $1,354,736.60.

Atlassian Stock Up 0.2 %

Shares of NASDAQ:TEAM opened at $143.50 on Thursday. The company has a market capitalization of $37.35 billion, a price-to-earnings ratio of -227.78 and a beta of 0.74. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The business has a 50-day moving average price of $166.31 and a 200 day moving average price of $185.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 18.13%. The business’s revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.21) EPS. Sell-side analysts expect that Atlassian Co. will post -0.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Prime Capital Investment Advisors LLC acquired a new position in Atlassian in the 4th quarter valued at about $288,000. International Assets Investment Management LLC acquired a new position in shares of Atlassian in the fourth quarter valued at approximately $13,805,000. Allspring Global Investments Holdings LLC increased its stake in Atlassian by 2,826.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 27,652 shares of the technology company’s stock worth $6,577,000 after buying an additional 26,707 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Atlassian by 12.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 1,364 shares of the technology company’s stock worth $324,000 after buying an additional 155 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Atlassian by 31.1% in the fourth quarter. Cerity Partners LLC now owns 3,965 shares of the technology company’s stock worth $943,000 after acquiring an additional 941 shares in the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TEAM has been the topic of several research analyst reports. BMO Capital Markets lowered their price objective on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Baird R W cut Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. TD Cowen decreased their price objective on Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Barclays lowered their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Finally, The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and increased their target price for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

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.