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 dated 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 $80,006,370.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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 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 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 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 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 transaction of $1,735,966.65.

Atlassian Trading Down 0.7 %

Shares of TEAM opened at $193.61 on Friday. 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 Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The business has a 50-day simple moving average of $202.37 and a two-hundred day simple moving average of $206.57.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data 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). 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 during the quarter, compared to analysts’ expectations of $1.02 billion. As a group, analysts predict that Atlassian Co. will post -0.4 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TEAM shares. Truist Financial raised their price target on shares of Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. UBS Group decreased their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. KeyCorp assumed coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. Finally, Citigroup lowered their target price on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Atlassian has an average rating of “Hold” and an average target price of $224.25.

Hedge Funds Weigh In On Atlassian

Large investors have recently made changes to their positions in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in 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 worth $14,763,000 after purchasing an additional 8,073 shares during the period. Arkadios Wealth Advisors purchased a new position in Atlassian during the fourth quarter valued at $202,000. American Century Companies Inc. increased its holdings in Atlassian by 58.7% in the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after acquiring an additional 159,102 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Atlassian in the 4th quarter valued at $13,805,000. Finally, Royal Bank of Canada boosted its holdings in shares of Atlassian by 17.3% during the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after purchasing an additional 56,149 shares during the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

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.