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 on Wednesday, April 10th. The stock was sold at an average price of $201.81, for a total transaction of $1,663,116.21. Following the completion of the sale, the chief executive officer now owns 448,860 shares of the company’s stock, valued at $90,584,436.60. 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 Monday, April 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.71, for a total transaction of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.25, for a total transaction of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $195.98, for a total transaction of $1,615,071.18.
• On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $193.55, for a total transaction of $1,595,045.55.
• On Monday, March 25th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were 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.

Atlassian Stock Performance

NASDAQ TEAM opened at $214.65 on Friday. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The company’s 50 day moving average is $204.04 and its two-hundred day moving average is $206.58. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

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

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Atlassian during the 3rd quarter valued at approximately $26,000. Meeder Asset Management Inc. grew its holdings in Atlassian by 151.5% during the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after buying an additional 147 shares in the last quarter. Tyler Stone Wealth Management purchased a new stake in Atlassian during the 2nd quarter valued at approximately $34,000. Quarry LP purchased a new stake in Atlassian during the 2nd quarter valued at approximately $44,000. Finally, Harbour Investments Inc. grew its holdings in Atlassian by 148.8% during the 4th quarter. Harbour Investments Inc. now owns 199 shares of the technology company’s stock valued at $47,000 after buying an additional 119 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. KeyCorp assumed coverage on shares of Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. 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. Truist Financial lifted their target price on shares of Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research note on Tuesday, January 16th. Citigroup lifted their target price on shares of Atlassian from $215.00 to $280.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Finally, StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $226.75.

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.