Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,499,310.72 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $188.64, for a total value of $1,499,310.72. Following the transaction, the chief executive officer now directly owns 349,712 shares of the company’s stock, valued at $65,969,671.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 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 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.
• On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.18, for a total transaction of $1,527,446.64.
• On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.16, for a total transaction of $1,527,287.68.
• On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $193.70, for a total value of $1,539,527.60.
• On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $187.54, for a total value of $1,490,567.92.
• On Wednesday, October 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $176.27, for a total value of $1,400,993.96.
• On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $159.81, for a total value of $1,270,169.88.
• On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total value of $1,282,012.40.
• On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.98, for a total transaction of $1,287,417.04.

Atlassian Stock Up 1.6 %

NASDAQ TEAM traded up $3.08 during trading on Tuesday, hitting $191.74. 1,828,350 shares of the company traded hands, compared to its average volume of 1,777,985. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The business has a fifty day simple moving average of $170.01 and a 200 day simple moving average of $171.08. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $49.91 billion, a P/E ratio of -304.35 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last posted 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. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Atlassian’s quarterly revenue was up 20.5% compared to the same quarter last year. As a group, sell-side analysts predict that Atlassian Co. will post -0.58 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group increased their price target on shares of Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Morgan Stanley lifted their price target on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. JMP Securities upgraded Atlassian to a “hold” rating in a report on Friday, August 2nd. UBS Group raised their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $230.00 to $175.00 in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $212.47.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of TEAM. Harbor Capital Advisors Inc. lifted its holdings in shares of Atlassian by 89.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,158 shares of the technology company’s stock worth $1,772,000 after acquiring an additional 5,258 shares during the period. Pursue Wealth Partners LLC bought a new stake in Atlassian during the third quarter worth $524,000. Hills Bank & Trust Co increased its position in shares of Atlassian by 96.6% during the 3rd quarter. Hills Bank & Trust Co now owns 1,787 shares of the technology company’s stock valued at $284,000 after purchasing an additional 878 shares during the last quarter. Reston Wealth Management LLC purchased a new stake in Atlassian during the third quarter valued at about $48,000. Finally, AustralianSuper Pty Ltd boosted its position in shares of Atlassian by 34.4% in the third quarter. AustralianSuper Pty Ltd now owns 7,874 shares of the technology company’s stock valued at $1,250,000 after acquiring an additional 2,016 shares during the period. Institutional investors own 93.03% of the company’s stock.

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.