Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,925,561.96 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $242.27, for a total value of $1,925,561.96. Following the sale, the chief executive officer now directly owns 476,880 shares in the company, valued at approximately $115,533,717.60. The trade was a 1.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $246.97, for a total value of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.45, for a total value of $2,030,316.60.
• 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 transaction of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 stock was 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 shares were 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 stock was 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 shares were sold at an average price of $239.19, for a total transaction of $1,901,082.12.

Atlassian Price Performance

NASDAQ TEAM opened at $250.27 on Friday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $287.97. The company has a fifty day simple moving average of $249.33 and a 200 day simple moving average of $196.29. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a market cap of $65.18 billion, a P/E ratio of -164.65 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, sell-side analysts predict that Atlassian Co. will post -0.54 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Asset Dedication LLC raised its stake in Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Atlassian in the 2nd quarter worth $36,000. GAMMA Investing LLC increased its holdings in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC raised its position in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the last quarter. Finally, Reston Wealth Management LLC bought a new stake in shares of Atlassian in the third quarter valued at about $48,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of recent analyst reports. Canaccord Genuity Group upped their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Wells Fargo & Company increased their target price on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Jefferies Financial Group lifted their price target on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Truist Financial increased their price objective on Atlassian from $200.00 to $250.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Finally, Raymond James lifted their target price on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus 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.