Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,527,446.64 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $192.18, for a total value of $1,527,446.64. Following the completion of the sale, the chief executive officer now owns 389,452 shares of the company’s stock, valued at approximately $74,844,885.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 value of $1,498,674.88.
• 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 value 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.
• On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $187.54, for a total transaction 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.
• 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 value of $1,287,417.04.
• On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $162.27, for a total transaction of $1,289,721.96.
• On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.56, for a total transaction of $1,299,974.88.

Atlassian Price Performance

TEAM stock opened at $189.35 on Friday. The firm has a 50 day moving average of $168.72 and a 200-day moving average of $171.79. The firm has a market capitalization of $49.29 billion, a P/E ratio of -300.56 and a beta of 0.73. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) EPS. As a group, sell-side analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Asset Dedication LLC boosted its position in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Hollencrest Capital Management lifted its stake in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the last quarter. Trust Co. of Vermont boosted its position in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after buying an additional 174 shares during the period. Rothschild Investment LLC purchased a new position in Atlassian during the 2nd quarter valued at about $36,000. Finally, GAMMA Investing LLC increased its stake in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after buying an additional 96 shares during the period. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on TEAM. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and increased their price objective for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $200.00 to $225.00 in a report on Tuesday, July 2nd. BMO Capital Markets cut their price objective on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research report on Friday, August 2nd. Barclays decreased their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, Robert W. Baird downgraded shares of Atlassian from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $230.00 to $175.00 in a report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average target price 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.