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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $269.01, for a total value of $2,138,091.48. Following the completion of the sale, the chief executive officer now directly owns 349,712 shares of the company’s stock, valued at approximately $94,076,025.12. This represents a 2.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.33, for a total value of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $251.20, for a total transaction of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $236.89, for a total transaction of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $243.35, for a total transaction of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $254.95, for a total value of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $246.97, for a total transaction of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.45, for a total value of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.25, for a total value of $2,028,727.00.

Atlassian Stock Up 2.5 %

TEAM stock opened at $274.71 on Wednesday. The company has a market cap of $71.54 billion, a price-to-earnings ratio of -180.73 and a beta of 0.83. The company has a fifty day moving average price of $258.81 and a 200 day moving average price of $206.31. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $287.97.

Atlassian (NASDAQ:TEAM) last announced its 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 net margin of 8.59% and a negative return on equity of 23.35%. The business 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 company earned ($0.07) earnings per share. The business’s revenue was up 21.5% compared to the same quarter last year. Sell-side analysts expect that Atlassian Co. will post -0.55 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on TEAM shares. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Robert W. Baird raised their price objective on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Cantor Fitzgerald began coverage on shares of Atlassian in a report on Friday, January 17th. They issued a “neutral” rating and a $264.00 price objective for the company. KeyCorp increased their target price on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Piper Sandler boosted their price target on shares of Atlassian from $265.00 to $310.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $273.19.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the period. True Wealth Design LLC raised its position in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Atlassian in the 3rd quarter worth $48,000. Quarry LP boosted its holdings in shares of Atlassian by 143.8% in the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after acquiring an additional 220 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Atlassian by 23.2% during the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.