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 Atlassian stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $297.51, for a total transaction of $2,364,609.48. Following the sale, the chief executive officer now directly owns 214,596 shares in the company, valued at $63,844,455.96. This trade represents a 3.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $313.95, for a total transaction of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.90, for a total transaction of $2,478,981.20.
• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.74, for a total transaction of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $318.91, for a total transaction of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.20, for a total transaction of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.01, for a total transaction of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.33, for a total transaction of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded down $12.50 during trading on Friday, reaching $285.99. The company had a trading volume of 1,717,448 shares, compared to its average volume of 2,056,392. The firm’s fifty day moving average is $272.83 and its 200 day moving average is $221.70. The firm has a market capitalization of $74.93 billion, a PE ratio of -213.42 and a beta of 0.87. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, equities analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Institutional Trading of Atlassian

A number of institutional investors have recently made changes to their positions in the stock. Corebridge Financial Inc. lifted its stake in Atlassian by 0.3% during the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company’s stock valued at $2,555,000 after purchasing an additional 35 shares during the last quarter. GeoWealth Management LLC lifted its stake in Atlassian by 26.8% during the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company’s stock valued at $44,000 after purchasing an additional 38 shares during the last quarter. Assetmark Inc. lifted its stake in Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after purchasing an additional 41 shares during the last quarter. Allworth Financial LP lifted its stake in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after purchasing an additional 47 shares during the last quarter. Finally, True Wealth Design LLC lifted its stake in Atlassian by 21.6% during the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company’s stock valued at $69,000 after purchasing an additional 50 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on TEAM. Jefferies Financial Group boosted their price objective on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Macquarie boosted their price objective on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Wells Fargo & Company boosted their price objective on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Piper Sandler boosted their price objective on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, UBS Group boosted their price objective on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

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.