Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 7,948 Shares

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $173.13, for a total transaction of $1,376,037.24. Following the sale, the chief executive officer now directly owns 453,036 shares of the company’s stock, valued at approximately $78,434,122.68. The sale 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 Monday, July 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $182.56, for a total transaction of $1,450,986.88.
• On Wednesday, June 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $170.45, for a total transaction of $1,354,736.60.
• On Monday, June 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.95, for a total transaction of $1,303,074.60.
• On Friday, June 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $159.43, for a total transaction of $1,267,149.64.
• On Wednesday, June 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.54, for a total transaction of $1,299,815.92.
• On Tuesday, May 28th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $165.51, for a total transaction of $1,363,967.91.
• On Tuesday, May 21st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.45, for a total transaction of $1,470,606.45.
• On Tuesday, May 14th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $184.26, for a total transaction of $1,518,486.66.
• On Friday, May 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $179.88, for a total transaction of $1,482,391.08.
• On Wednesday, May 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.93, for a total transaction of $1,474,562.13.

Atlassian Price Performance

Shares of Atlassian stock traded up $3.18 during midday trading on Thursday, hitting $177.63. 1,303,341 shares of the company traded hands, compared to its average volume of 1,737,720. Atlassian Co. has a 12 month low of $152.34 and a 12 month high of $258.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $46.24 billion, a price-to-earnings ratio of -281.95 and a beta of 0.74. The firm’s fifty day moving average price is $171.32 and its 200-day moving average price is $198.70.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the firm posted ($0.40) EPS. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Atlassian Co. will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

A number of institutional investors have recently added to or reduced their stakes in the business. Graypoint LLC raised its stake in shares of Atlassian by 2.4% during the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after acquiring an additional 42 shares in the last quarter. Legacy Wealth Asset Management LLC increased its stake in shares of Atlassian by 1.4% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after buying an additional 43 shares during the period. Park National Corp OH increased its position in Atlassian by 3.5% during the 4th quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock valued at $342,000 after purchasing an additional 48 shares during the period. First Trust Direct Indexing L.P. increased its position in Atlassian by 1.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after purchasing an additional 55 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of Atlassian by 5.7% during the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock valued at $248,000 after buying an additional 56 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on TEAM shares. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price for the company in a research note on Thursday. Wells Fargo & Company cut their target price on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Oppenheimer cut their target price on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. KeyCorp started coverage on shares of Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating for the company. Finally, Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $225.35.

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.