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 firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $144.73, for a total value of $1,150,314.04. Following the completion of the sale, the chief executive officer now directly owns 317,920 shares of the company’s stock, valued at $46,012,561.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• 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 value 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 shares were sold at an average price of $169.47, for a total value of $1,346,947.56.
• On Monday, July 22nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $175.95, for a total value of $1,398,450.60.
• On Wednesday, July 17th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was 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 shares were 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 shares were 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 shares were sold at an average price of $163.95, for a total value of $1,303,074.60.

Atlassian Trading Down 0.6 %

TEAM stock traded down $0.83 during trading on Monday, hitting $142.85. 4,175,977 shares of the company traded hands, compared to its average volume of 1,762,097. The firm has a market capitalization of $37.18 billion, a PE ratio of -228.06 and a beta of 0.74. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The company has a 50-day moving average of $169.60 and a 200-day moving average of $191.11. 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 (NASDAQ:TEAM) last released its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 18.13% and a negative net margin of 6.89%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted ($0.21) earnings per share. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. Analysts predict that Atlassian Co. will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Several hedge funds have recently bought and sold shares of TEAM. International Assets Investment Management LLC purchased a new stake in Atlassian during the fourth quarter valued at approximately $13,805,000. Arkadios Wealth Advisors purchased a new position in Atlassian in the 4th quarter worth $202,000. Prime Capital Investment Advisors LLC purchased a new position in shares of Atlassian during the 4th quarter valued at about $288,000. CENTRAL TRUST Co raised its stake in shares of Atlassian by 6.6% during the 4th quarter. CENTRAL TRUST Co now owns 7,213 shares of the technology company’s stock valued at $1,716,000 after buying an additional 445 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Atlassian by 10.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 8,320 shares of the technology company’s stock valued at $1,979,000 after purchasing an additional 770 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of research analyst reports. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $200.00 to $225.00 in a research report on Tuesday, July 2nd. Canaccord Genuity Group decreased their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Mizuho decreased their target price on Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a research report on Thursday, July 11th. Finally, Wells Fargo & Company cut their price target on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.25.

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.