Michael Cannon-Brookes Sells 8,241 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAMGet Free Report) CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $219.24, for a total transaction of $1,806,756.84. Following the completion of the sale, the chief executive officer now owns 313,158 shares of the company’s stock, valued at $68,656,759.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

  • On Friday, January 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $247.34, for a total transaction of $2,038,328.94.
  • On Monday, January 22nd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $247.60, for a total transaction of $2,040,471.60.
  • On Thursday, January 18th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $238.95, for a total transaction of $1,969,186.95.
  • On Friday, January 12th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $237.84, for a total transaction of $1,960,039.44.
  • On Wednesday, January 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $242.95, for a total transaction of $2,002,150.95.
  • On Monday, January 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $234.45, for a total transaction of $1,932,102.45.
  • On Tuesday, January 2nd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $227.19, for a total transaction of $1,872,272.79.
  • On Tuesday, December 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $245.03, for a total transaction of $2,019,292.23.
  • On Friday, December 22nd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $241.80, for a total transaction of $1,992,673.80.
  • On Wednesday, December 20th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $237.16, for a total transaction of $1,954,435.56.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $211.26 on Wednesday. The company has a 50 day moving average of $227.77 and a 200 day moving average of $203.32. The stock has a market cap of $54.52 billion, a P/E ratio of -141.79 and a beta of 0.70. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.23.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TEAM. Piper Sandler dropped their price target on shares of Atlassian from $200.00 to $180.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. Barclays raised their price target on shares of Atlassian from $165.00 to $250.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. The Goldman Sachs Group lifted their price objective on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Finally, StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Friday, January 26th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $225.19.

Check Out Our Latest Stock Analysis on Atlassian

Hedge Funds Weigh In On Atlassian

Hedge funds have recently bought and sold shares of the company. OFI Invest Asset Management purchased a new position in Atlassian during the third quarter valued at approximately $26,000. Financial Gravity Asset Management Inc. purchased a new position in Atlassian during the second quarter valued at approximately $41,000. Tyler Stone Wealth Management purchased a new position in Atlassian during the second quarter valued at approximately $34,000. Meeder Asset Management Inc. grew its stake in Atlassian by 151.5% during the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after acquiring an additional 147 shares in the last quarter. Finally, Carmel Capital Partners LLC grew its stake in Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 53.36% 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.

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