Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,539,527.60 in Stock

Posted by John. R. Edwardson on Oct 18th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $193.70, for a total transaction of $1,539,527.60. Following the transaction, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at $83,134,490.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $187.54, for a total transaction of $1,490,567.92.
On Wednesday, October 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $176.27, for a total transaction of $1,400,993.96.
On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $159.81, for a total value of $1,270,169.88.
On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total value of $1,282,012.40.
On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.98, for a total value of $1,287,417.04.
On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $162.27, for a total value of $1,289,721.96.
On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.56, for a total transaction of $1,299,974.88.
On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $165.03, for a total transaction of $1,311,658.44.
On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $160.97, for a total value of $1,279,389.56.
On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $166.36, for a total value of $1,322,229.28.

Atlassian Trading Down 0.4 %

TEAM opened at $188.50 on Friday. The stock has a market capitalization of $49.02 billion, a PE ratio of -162.50 and a beta of 0.73. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The business’s 50 day moving average price is $163.90 and its 200 day moving average price is $171.91.

Atlassian (NASDAQ:TEAM – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.21) EPS. As a group, equities research analysts expect that Atlassian Co. will post -0.58 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a research report on Thursday, July 11th. Robert W. Baird lowered shares of Atlassian from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $230.00 to $175.00 in a research report on Friday, August 2nd. BMO Capital Markets reduced their price target on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Finally, Raymond James raised Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Tuesday, October 1st. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.12.

Get Our Latest Analysis on Atlassian

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dragoneer Investment Group LLC purchased a new position in shares of Atlassian during the 2nd quarter worth approximately $469,803,000. Price T Rowe Associates Inc. MD boosted its position in shares of Atlassian by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after buying an additional 904,138 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Atlassian in the 2nd quarter valued at $91,072,000. Quadrature Capital Ltd acquired a new position in Atlassian during the 1st quarter worth about $55,307,000. Finally, Swedbank AB purchased a new position in Atlassian during the 1st quarter valued at about $50,923,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

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.