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 company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $141.23, for a total value of $1,122,496.04. Following the transaction, the chief executive officer now directly owns 278,180 shares of the company’s stock, valued at $39,287,361.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $144.73, for a total value of $1,150,314.04.
• On Wednesday, July 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 transaction 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 transaction 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 transaction of $1,398,450.60.
• 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 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 stock was sold at an average price of $170.45, for a total transaction of $1,354,736.60.

Atlassian Stock Performance

Atlassian stock opened at $143.50 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $37.35 billion, a P/E ratio of -227.78 and a beta of 0.74. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The firm’s 50 day simple moving average is $166.31 and its 200-day simple moving average is $185.69.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 18.13%. The company’s revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) EPS. As a group, equities research analysts predict that Atlassian Co. will post -0.57 EPS for the current year.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Atlassian in the 4th quarter valued at about $247,740,000. Price T Rowe Associates Inc. MD increased 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 buying an additional 904,138 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Atlassian in the 2nd quarter worth approximately $91,072,000. Vanguard Group Inc. boosted its stake in shares of Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after buying an additional 504,181 shares during the period. Finally, Quadrature Capital Ltd purchased a new position in shares of Atlassian during the 1st quarter valued at $55,307,000. 93.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. TD Cowen dropped their target price on Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, April 26th. JMP Securities raised Atlassian to a “hold” rating in a research note on Friday, August 2nd. Robert W. Baird downgraded Atlassian from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $230.00 to $175.00 in a research note on Friday, August 2nd. Finally, Oppenheimer cut their price objective on Atlassian from $250.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $217.69.

About Atlassian

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.