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 stock in a transaction on Monday, May 6th. The stock was sold at an average price of $182.45, for a total transaction of $1,503,570.45. Following the completion of the sale, the chief executive officer now directly owns 300,522 shares of the company’s stock, valued at approximately $54,830,238.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $172.99, for a total value of $1,425,610.59.
• On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $178.95, for a total value of $1,474,726.95.
• On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were 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 value of $1,617,378.66.
• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was 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 shares were 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 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 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.

Atlassian Stock Down 3.0 %

TEAM stock opened at $178.52 on Thursday. The stock has a market cap of $46.47 billion, a PE ratio of -283.37 and a beta of 0.67. The firm’s 50-day simple moving average is $195.77 and its 200 day simple moving average is $205.78. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.62 by $0.27. The company 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 revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.40) earnings per share. As a group, sell-side analysts predict that Atlassian Co. will post -0.29 EPS for the current year.

Institutional Trading of Atlassian

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Atlassian by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after buying an additional 326,673 shares during the period. WCM Investment Management LLC raised its position in shares of Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after buying an additional 249,017 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after acquiring an additional 1,511,318 shares during the period. Finally, Artisan Partners Limited Partnership boosted its holdings in shares of Atlassian by 1.1% in the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock valued at $1,218,765,000 after acquiring an additional 63,903 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TEAM shares. KeyCorp started coverage on shares of Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating for the company. The Goldman Sachs Group upped their target price on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Truist Financial lowered their price objective on Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a report on Friday, April 26th. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Finally, Robert W. Baird decreased their target price on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $223.22.

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.