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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $255.45, for a total value of $2,030,316.60. Following the completion of the sale, the chief executive officer now owns 23,844 shares in the company, valued at approximately $6,090,949.80. This represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.25, for a total value of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.22, for a total transaction of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.13, for a total transaction of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.20, for a total transaction of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.79, for a total value of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $264.32, for a total value of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $261.73, for a total value of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $239.19, for a total value of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $224.33, for a total transaction of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.72, for a total transaction of $1,770,178.56.

Atlassian Stock Down 1.2 %

Shares of NASDAQ TEAM traded down $3.01 during trading hours on Monday, hitting $247.10. The stock had a trading volume of 798,648 shares, compared to its average volume of 1,867,403. The company has a market capitalization of $64.35 billion, a P/E ratio of -162.56 and a beta of 0.80. The firm’s 50-day moving average price is $243.87 and its two-hundred day moving average price is $193.75. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business posted ($0.07) EPS. Atlassian’s quarterly revenue was up 21.5% on a year-over-year basis. Analysts anticipate that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Institutional investors have recently bought and sold shares of the stock. Legacy Wealth Asset Management LLC raised its stake in shares of Atlassian by 2.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock valued at $544,000 after acquiring an additional 70 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after purchasing an additional 82 shares during the last quarter. Commerce Bank raised its position in shares of Atlassian by 1.8% in the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock valued at $789,000 after purchasing an additional 90 shares during the period. GAMMA Investing LLC lifted its stake in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the last quarter. Finally, Founders Financial Securities LLC boosted its holdings in shares of Atlassian by 4.9% during the 2nd quarter. Founders Financial Securities LLC now owns 2,201 shares of the technology company’s stock worth $389,000 after buying an additional 102 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Piper Sandler upped their price target on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Robert W. Baird boosted their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Wells Fargo & Company increased their price target on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Mizuho boosted their price objective on Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Canaccord Genuity Group raised their target price on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $258.00.

About Atlassian

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.