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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $172.99, for a total value of $1,425,610.59. Following the transaction, the chief executive officer now directly owns 325,245 shares of the company’s stock, valued at $56,264,132.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.95, for a total transaction of $1,474,726.95.
• On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $191.53, for a total value of $1,578,398.73.
• 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 transaction 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 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 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 value 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 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 value 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.

Atlassian Price Performance

TEAM opened at $183.55 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 12-month low of $128.02 and a 12-month high of $258.69. The business has a 50 day moving average of $197.65 and a 200-day moving average of $206.02.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. Atlassian’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.40) EPS. As a group, research analysts predict that Atlassian Co. will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TEAM. UBS Group reduced their target price 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. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Monday. Mizuho decreased their target price on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Finally, Canaccord Genuity Group decreased their price objective on Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $223.22.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of 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 in the last quarter. Arkadios Wealth Advisors bought a new stake in Atlassian during the 4th quarter valued at $202,000. American Century Companies Inc. increased its position in shares of Atlassian by 58.7% during the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after acquiring an additional 159,102 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Atlassian during the 4th quarter worth approximately $13,805,000. Finally, Royal Bank of Canada raised its position 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 buying an additional 56,149 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.