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 firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $163.56, for a total transaction of $1,299,974.88. Following the completion of the sale, the chief executive officer now owns 55,636 shares in the company, valued at $9,099,824.16. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $165.03, for a total value of $1,311,658.44.
• On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.97, for a total value of $1,279,389.56.
• On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $166.36, for a total value of $1,322,229.28.
• On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $156.92, for a total value of $1,247,200.16.
• On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $151.62, for a total transaction of $1,205,075.76.
• On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $141.23, for a total transaction of $1,122,496.04.
• On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $144.73, for a total transaction of $1,150,314.04.
• On Wednesday, July 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.07, for a total transaction of $1,407,352.36.
• On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.65, for a total value of $1,411,962.20.
• On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.47, for a total value of $1,346,947.56.

Atlassian Stock Performance

NASDAQ:TEAM opened at $163.08 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The firm’s fifty day simple moving average is $161.99 and its 200-day simple moving average is $175.39. The stock has a market cap of $42.45 billion, a PE ratio of -258.86 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the company posted ($0.21) earnings per share. Analysts expect that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TEAM shares. Mizuho decreased their price objective on Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Oppenheimer decreased their price target on shares of Atlassian from $250.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Finally, Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research report on Thursday, July 11th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $217.69.

Hedge Funds Weigh In On Atlassian

Several hedge funds and other institutional investors have recently bought and sold shares of TEAM. Dragoneer Investment Group LLC purchased a new position in shares of Atlassian in the second quarter valued at $469,803,000. Price T Rowe Associates Inc. MD grew its stake in Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after acquiring an additional 904,138 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in Atlassian during the 2nd quarter valued at about $91,072,000. Vanguard Group Inc. raised its position in Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after acquiring an additional 504,181 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Atlassian in the first quarter valued at about $55,307,000. 93.03% of the stock is owned by institutional investors and hedge funds.

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.