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

Posted by John. R. Edwardson on Jan 19th, 2025

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $251.20, for a total value of $1,996,537.60. Following the transaction, the chief executive officer now directly owns 405,348 shares of the company’s stock, valued at $101,823,417.60. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $236.89, for a total value of $1,882,801.72.
On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80.
On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $243.35, for a total value of $1,934,145.80.
On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $254.95, for a total value of $2,026,342.60.
On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $242.27, for a total value of $1,925,561.96.
On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was 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 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 value of $2,028,488.56.
On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.13, for a total value of $2,210,577.24.

Atlassian Price Performance

NASDAQ:TEAM opened at $252.36 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The business’s 50-day simple moving average is $256.36 and its two-hundred day simple moving average is $202.09. The stock has a market cap of $65.72 billion, a PE ratio of -166.03 and a beta of 0.83. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97.

Atlassian (NASDAQ:TEAM – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the firm earned ($0.07) earnings per share. As a group, analysts forecast that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on TEAM shares. KeyCorp increased their target price on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Citigroup increased their target price on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group increased their target price on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. UBS Group increased their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company increased their target price on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $272.00.

View Our Latest Report on Atlassian

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Donoghue Forlines LLC grew its position in shares of Atlassian by 176.0% during the fourth quarter. Donoghue Forlines LLC now owns 7,779 shares of the technology company’s stock valued at $1,893,000 after purchasing an additional 4,961 shares in the last quarter. Avior Wealth Management LLC grew its position in shares of Atlassian by 66.8% during the fourth quarter. Avior Wealth Management LLC now owns 507 shares of the technology company’s stock valued at $123,000 after purchasing an additional 203 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Atlassian by 3,951.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company’s stock valued at $36,432,000 after purchasing an additional 145,995 shares in the last quarter. Genesis Private Wealth LLC purchased a new position in shares of Atlassian during the fourth quarter valued at about $206,000. Finally, Sheets Smith Wealth Management purchased a new position in shares of Atlassian during the fourth quarter valued at about $706,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.