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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $196.26, for a total transaction of $1,617,378.66. Following the completion of the sale, the chief executive officer now owns 407,655 shares of the company’s stock, valued at approximately $80,006,370.30. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.46, for a total value of $1,627,267.86.
• On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $201.81, for a total value of $1,663,116.21.
• 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 shares were sold at an average price of $196.25, for a total value 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 stock was 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 value 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 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 stock was sold at an average price of $210.65, for a total value of $1,735,966.65.

Atlassian Price Performance

TEAM stock opened at $191.55 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The stock has a market cap of $49.69 billion, a PE ratio of -128.56 and a beta of 0.63. The company has a 50-day moving average price of $201.83 and a 200 day moving average price of $206.53.

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

Analysts Set New Price Targets

TEAM has been the subject of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. UBS Group decreased their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. KeyCorp started coverage on Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock. Finally, Citigroup cut their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research report on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $224.25.

Hedge Funds Weigh In On Atlassian

Large investors have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Atlassian by 26.0% during the first quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock worth $1,294,640,000 after acquiring an additional 1,561,804 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Atlassian by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares during the last quarter. Durable Capital Partners LP acquired a new position in Atlassian in the 1st quarter valued at about $434,144,000. Morgan Stanley raised its position in Atlassian by 156.8% in the third quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock valued at $361,449,000 after purchasing an additional 1,095,297 shares during the period. Finally, Norges Bank purchased a new position in shares of Atlassian during the fourth quarter worth $138,509,000. 93.03% of the stock is 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.