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 dated Wednesday, November 27th. The shares were sold at an average price of $261.73, for a total transaction of $2,080,230.04. Following the transaction, the chief executive officer now owns 174,856 shares in the company, valued at $45,765,060.88. This represents a 4.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $239.19, for a total transaction of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $224.33, for a total transaction of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.72, for a total transaction of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.56, for a total transaction of $1,530,466.88.
• 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 transaction 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 transaction 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 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 transaction of $1,539,527.60.

Atlassian Price Performance

TEAM stock traded up $0.23 during trading on Wednesday, reaching $262.46. The company had a trading volume of 1,422,960 shares, compared to its average volume of 1,870,232. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $269.40. The firm has a 50-day simple moving average of $200.51 and a 200-day simple moving average of $178.12.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate 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 previous year, the business posted ($0.07) EPS. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities research analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC increased its holdings in Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after acquiring an additional 520 shares in the last quarter. Impax Asset Management Group plc grew its holdings in shares of Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares in the last quarter. Parnassus Investments LLC grew its holdings in shares of Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after buying an additional 245,286 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Atlassian during the third quarter worth $97,350,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Atlassian during the third quarter worth $2,232,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the subject of several research reports. Barclays lowered their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. JMP Securities upgraded shares of Atlassian to a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $230.00 in a research note on Friday, August 2nd. Wells Fargo & Company raised their price target on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Oppenheimer raised their price target on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $244.21.

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.