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 stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $313.95, for a total transaction of $2,495,274.60. Following the transaction, the chief executive officer now directly owns 230,492 shares in the company, valued at approximately $72,362,963.40. This represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.90, for a total transaction of $2,478,981.20.
• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.74, for a total transaction of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $318.91, for a total transaction of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.20, for a total transaction of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.01, for a total transaction of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.33, for a total transaction of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $251.20, for a total transaction of $1,996,537.60.
• 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 transaction 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 transaction of $3,871,470.80.

Atlassian Trading Down 1.7 %

TEAM stock opened at $298.49 on Friday. The company has a market capitalization of $78.20 billion, a PE ratio of -222.75 and a beta of 0.87. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company’s 50 day moving average price is $272.83 and its two-hundred day moving average price is $221.70. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Mackenzie Financial Corp increased its stake in shares of Atlassian by 6.2% in the fourth quarter. Mackenzie Financial Corp now owns 82,001 shares of the technology company’s stock worth $19,957,000 after buying an additional 4,797 shares during the period. Toronto Dominion Bank increased its stake in shares of Atlassian by 14.6% in the fourth quarter. Toronto Dominion Bank now owns 26,405 shares of the technology company’s stock worth $6,426,000 after buying an additional 3,371 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Atlassian in the fourth quarter worth $7,447,000. University of Texas Texas AM Investment Management Co. increased its stake in shares of Atlassian by 66.4% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 7,120 shares of the technology company’s stock worth $1,733,000 after buying an additional 2,842 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Atlassian in the fourth quarter worth $16,461,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the topic of several research reports. Jefferies Financial Group upped their price objective on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Wells Fargo & Company increased their target price on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Macquarie increased their target price on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Truist Financial reiterated a “buy” rating and issued a $350.00 target price (up previously from $300.00) on shares of Atlassian in a report on Friday, January 31st. Finally, Morgan Stanley increased their target price on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $319.71.

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.