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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $278.13, for a total transaction of $2,210,577.24. Following the sale, the chief executive officer now directly owns 79,480 shares in the company, valued at $22,105,772.40. This represents a 9.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.20, for a total transaction of $2,211,133.60.
• 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 transaction 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 value of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $261.73, for a total value 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 shares were sold at an average price of $224.33, for a total value 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 value 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 value 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 stock was sold at an average price of $189.75, for a total transaction of $1,508,133.00.

Atlassian Trading Down 7.3 %

NASDAQ TEAM opened at $250.19 on Thursday. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $287.97. The stock has a 50-day simple moving average of $234.80 and a 200 day simple moving average of $188.97. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $65.16 billion, a PE ratio of -164.60 and a beta of 0.80.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business posted ($0.07) EPS. Atlassian’s revenue was up 21.5% on a year-over-year basis. Research analysts forecast that Atlassian Co. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On Atlassian

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TEAM. Raymond James raised their price target on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Scotiabank boosted their price objective on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. KeyCorp lifted their target price on shares of Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Jefferies Financial Group raised their price target on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Truist Financial increased their price target on Atlassian from $200.00 to $250.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $256.50.

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.