Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,578,398.73 in Stock

Posted by MarketBeat News on Apr 24th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $191.53, for a total value of $1,578,398.73. Following the completion of the sale, the chief executive officer now directly owns 391,173 shares of the company’s stock, valued at approximately $74,921,364.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.26, for a total value of $1,617,378.66.
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 transaction of $1,627,267.86.
On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $201.81, for a total transaction 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 stock was sold at an average price of $195.98, for a total value 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 value 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 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 stock was sold at an average price of $197.83, for a total value of $1,630,317.03.

Atlassian Stock Performance

Shares of Atlassian stock opened at $199.44 on Wednesday. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The firm has a market capitalization of $51.74 billion, a P/E ratio of -133.85 and a beta of 0.63. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The business has a fifty day simple moving average of $201.18 and a two-hundred day simple moving average of $206.81.

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Atlassian (NASDAQ:TEAM – Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. On average, equities analysts forecast that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of recent research reports. UBS Group decreased their target price on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Citigroup decreased their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Wells Fargo & Company raised their target price on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, Mizuho reduced their target price on Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a report on Monday, April 15th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $224.25.

Check Out Our Latest Report on Atlassian

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently added to or reduced their stakes in TEAM. National Bank of Canada FI raised its position in shares of Atlassian by 15.0% in the 3rd quarter. National Bank of Canada FI now owns 1,057 shares of the technology company’s stock worth $209,000 after purchasing an additional 138 shares during the last quarter. CWM LLC increased its stake in Atlassian by 61.3% during the 3rd quarter. CWM LLC now owns 2,028 shares of the technology company’s stock valued at $409,000 after purchasing an additional 771 shares in the last quarter. DnB Asset Management AS raised its holdings in Atlassian by 3.4% in the third quarter. DnB Asset Management AS now owns 23,785 shares of the technology company’s stock worth $4,793,000 after buying an additional 791 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Atlassian by 40.3% in the third quarter. SG Americas Securities LLC now owns 8,517 shares of the technology company’s stock worth $1,716,000 after buying an additional 2,448 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC purchased a new stake in shares of Atlassian during the third quarter valued at approximately $308,000. 93.03% of the stock is owned by institutional investors.

About Atlassian

(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.