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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $192.56, for a total transaction of $1,530,466.88. Following the completion of the sale, the chief executive officer now directly owns 333,816 shares of the company’s stock, valued at approximately $64,279,608.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.64, for a total value of $1,499,310.72.
• 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 shares were sold at an average price of $188.56, for a total transaction of $1,498,674.88.
• On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.18, for a total value 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 shares were sold at an average price of $193.70, for a total transaction 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 transaction of $1,400,993.96.
• On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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.

Atlassian Price Performance

Shares of Atlassian stock traded down $1.90 on Thursday, hitting $188.54. 3,698,742 shares of the company traded hands, compared to its average volume of 1,787,631. The stock has a market capitalization of $49.08 billion, a P/E ratio of -302.17 and a beta of 0.73. The business has a 50-day simple moving average of $171.36 and a 200 day simple moving average of $171.12. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the firm earned ($0.21) EPS. The business’s revenue was up 20.5% on a year-over-year basis. Research analysts expect that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC grew its holdings in shares of Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Atlassian by 7.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after purchasing an additional 10,434 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Atlassian by 2.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock valued at $34,213,000 after purchasing an additional 3,687 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Atlassian in the 3rd quarter worth approximately $97,350,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Atlassian during the 2nd quarter valued at approximately $12,846,000. 93.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TEAM shares. Canaccord Genuity Group upped their price target on shares of Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Morgan Stanley upped their target price on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a research note on Thursday, July 11th. Scotiabank reduced their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $212.47.

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.