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

Posted by Thomas Dobrow on Dec 15th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $278.20, for a total value of $2,211,133.60. Following the sale, the chief executive officer now owns 95,376 shares in the company, valued at $26,533,603.20. The trade was a 7.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.79, for a total value of $2,215,822.92.
On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.32, for a total transaction of $2,100,815.36.
On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $261.73, for a total transaction of $2,080,230.04.
On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $239.19, for a total value of $1,901,082.12.
On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total transaction of $1,782,974.84.
On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.72, for a total transaction of $1,770,178.56.
On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.56, for a total transaction of $1,530,466.88.
On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.64, for a total transaction of $1,499,310.72.
On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $189.75, for a total value of $1,508,133.00.
On Wednesday, October 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.56, for a total value of $1,498,674.88.

Atlassian Price Performance

Shares of TEAM opened at $278.65 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $72.57 billion, a PE ratio of -183.32 and a beta of 0.80. The firm’s 50 day moving average price is $229.09 and its 200 day moving average price is $186.77. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97.

Atlassian (NASDAQ:TEAM – Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.07) EPS. As a group, research analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas acquired a new position in shares of Atlassian during the 3rd quarter valued at about $11,438,000. Tri Ri Asset Management Corp bought a new stake in Atlassian during the third quarter worth approximately $2,584,000. Synovus Financial Corp grew its holdings in Atlassian by 26.4% during the third quarter. Synovus Financial Corp now owns 19,962 shares of the technology company’s stock valued at $3,170,000 after purchasing an additional 4,173 shares during the last quarter. Tidal Investments LLC raised its position in shares of Atlassian by 143.2% in the third quarter. Tidal Investments LLC now owns 12,605 shares of the technology company’s stock valued at $2,002,000 after purchasing an additional 7,422 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of Atlassian by 59.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,901 shares of the technology company’s stock worth $461,000 after buying an additional 1,081 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TEAM shares. UBS Group increased their price target on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group raised their target price on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Truist Financial boosted their price target on shares of Atlassian from $200.00 to $250.00 and gave the company a “hold” rating in a report on Thursday. Canaccord Genuity Group raised their price objective on shares of Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Scotiabank boosted their target price on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $256.50.

Check Out Our Latest Research Report on Atlassian

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.