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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $193.55, for a total transaction of $1,595,045.55. Following the sale, the chief executive officer now directly owns 506,547 shares in the company, valued at approximately $98,042,171.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, March 25th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $192.21, for a total transaction of $1,584,002.61.
• On Wednesday, March 20th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $195.12, for a total transaction of $1,607,983.92.
• On Friday, March 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.83, for a total transaction of $1,630,317.03.
• On Wednesday, March 13th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $210.65, for a total transaction of $1,735,966.65.
• On Thursday, March 7th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $200.73, for a total transaction of $1,654,215.93.
• On Tuesday, March 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.31, for a total transaction of $1,617,790.71.
• On Wednesday, February 28th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $206.42, for a total transaction of $1,701,107.22.
• On Thursday, February 22nd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $205.80, for a total transaction of $1,695,997.80.
• On Friday, February 16th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $209.72, for a total transaction of $1,728,302.52.
• On Wednesday, February 14th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $213.14, for a total transaction of $1,756,486.74.

Atlassian Trading Up 1.4 %

NASDAQ:TEAM opened at $196.02 on Wednesday. The company has a market capitalization of $50.85 billion, a PE ratio of -131.56 and a beta of 0.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a 52-week low of $128.02 and a 52-week high of $258.69. The stock has a fifty day simple moving average of $211.00 and a 200-day simple moving average of $206.62.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. On average, equities research analysts expect that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Atlassian by 12.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock valued at $14,763,000 after purchasing an additional 8,073 shares during the last quarter. American Century Companies Inc. raised its stake in Atlassian by 58.7% in the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after purchasing an additional 159,102 shares during the last quarter. Royal Bank of Canada raised its stake in Atlassian by 17.3% in the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after purchasing an additional 56,149 shares during the last quarter. Prudential PLC raised its stake in Atlassian by 5.4% in the 3rd quarter. Prudential PLC now owns 2,988 shares of the technology company’s stock valued at $602,000 after purchasing an additional 154 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Atlassian by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 14,851,471 shares of the technology company’s stock valued at $2,992,720,000 after purchasing an additional 112,482 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays lifted their price objective 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 reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. UBS Group lowered their price objective on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock 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 company a “neutral” rating in a research report on Friday, February 2nd. Finally, Truist Financial lifted their price objective on shares of Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $225.19.

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.