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

Posted by Faye Duncan on Jul 26th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $175.95, for a total value of $1,398,450.60. Following the sale, the chief executive officer now directly owns 389,452 shares in the company, valued at approximately $68,524,079.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $169.47, for a total value of $1,346,947.56.
On Wednesday, July 17th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $180.42, for a total value of $1,433,978.16.
On Monday, July 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $180.11, for a total value of $1,431,514.28.
On Wednesday, July 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $173.13, for a total value of $1,376,037.24.
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 value 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 value of $1,354,736.60.
On Monday, June 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.95, for a total value of $1,303,074.60.
On Friday, June 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $159.43, for a total value of $1,267,149.64.
On Wednesday, June 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.54, for a total value of $1,299,815.92.
On Tuesday, May 28th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $165.51, for a total value of $1,363,967.91.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $178.22 on Friday. The company has a market cap of $46.39 billion, a P/E ratio of -282.89 and a beta of 0.74. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a one year low of $152.34 and a one year high of $258.69. The business’s 50-day simple moving average is $170.24 and its 200 day simple moving average is $194.60.

Atlassian (NASDAQ:TEAM – Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter last year, the firm earned ($0.40) EPS. Atlassian’s quarterly revenue was up 29.9% on a year-over-year basis. On average, sell-side analysts forecast that Atlassian Co. will post -0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Oppenheimer reduced their target price on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Citigroup cut their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Canaccord Genuity Group cut their price objective on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $200.00 to $225.00 in a report on Tuesday, July 2nd. Finally, Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective on the stock in a report on Thursday, July 11th. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $228.81.

View Our Latest Stock Analysis on TEAM

Institutional Investors Weigh In On Atlassian

A number of hedge funds have recently bought and sold shares of the business. Verdence Capital Advisors LLC grew its stake in Atlassian by 32.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 1,855 shares of the technology company’s stock valued at $328,000 after purchasing an additional 452 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Atlassian by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 783,688 shares of the technology company’s stock valued at $138,619,000 after purchasing an additional 26,555 shares in the last quarter. Hills Bank & Trust Co acquired a new stake in Atlassian during the 2nd quarter valued at approximately $161,000. Nicholas Company Inc. grew its stake in Atlassian by 34.5% during the 2nd quarter. Nicholas Company Inc. now owns 239,465 shares of the technology company’s stock valued at $42,357,000 after purchasing an additional 61,485 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Atlassian by 3.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the technology company’s stock worth $2,246,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.