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, January 23rd. The shares were sold at an average price of $265.33, for a total transaction of $2,108,842.84. Following the transaction, the chief executive officer now owns 365,608 shares in the company, valued at $97,006,770.64. This represents a 2.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $251.20, for a total value of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $243.35, for a total transaction 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 transaction of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96.
• 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 value 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 value of $2,028,488.56.

Atlassian Stock Down 0.3 %

NASDAQ:TEAM traded down $0.89 during trading hours on Friday, reaching $264.81. The company’s stock had a trading volume of 1,143,312 shares, compared to its average volume of 1,677,894. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The business’s 50-day moving average is $256.87 and its 200-day moving average is $203.61. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $68.96 billion, a price-to-earnings ratio of -174.22 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating 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 quarter in the prior year, the firm posted ($0.07) EPS. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. Equities research analysts predict that Atlassian Co. will post -0.55 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on TEAM shares. Canaccord Genuity Group boosted their price objective on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. KeyCorp boosted their price target on shares of Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Macquarie began coverage on shares of Atlassian in a research note on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective for the company. Robert W. Baird boosted their target price on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Raymond James lifted their price target on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Nine analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and an average target price of $273.19.

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC bought a new position in Atlassian in the 3rd quarter worth $606,000. Sequoia Financial Advisors LLC grew its position in shares of Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares during the last quarter. Fulton Bank N.A. bought a new position in shares of Atlassian in the fourth quarter worth about $447,000. Paloma Partners Management Co acquired a new position in shares of Atlassian during the 3rd quarter worth about $1,588,000. Finally, Impax Asset Management Group plc boosted its stake in Atlassian by 590.6% during the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after purchasing an additional 31,986 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.