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 stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $315.74, for a total value of $2,509,501.52. Following the sale, the chief executive officer now owns 254,336 shares of the company’s stock, valued at approximately $80,304,048.64. The trade was a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• 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 value of $2,478,981.20.
• 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 value of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $318.91, for a total value of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.20, for a total value of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $243.35, for a total transaction of $1,934,145.80.

Atlassian Stock Performance

NASDAQ TEAM opened at $313.10 on Friday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.18 and a current ratio of 1.24. The company has a market capitalization of $82.03 billion, a P/E ratio of -233.65 and a beta of 0.87. The company has a fifty day moving average of $269.40 and a 200-day moving average of $216.86.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) 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%. As a group, equities research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TEAM. Wells Fargo & Company raised their price target on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Robert W. Baird raised their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Barclays raised their price target on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. KeyCorp raised their price target on shares of Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Oppenheimer raised their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $319.71.

Institutional Trading of Atlassian

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Atlassian by 68.6% in 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 last quarter. CWM LLC lifted its stake in Atlassian by 270.6% in the third quarter. CWM LLC now owns 7,875 shares of the technology company’s stock worth $1,251,000 after purchasing an additional 5,750 shares during the last quarter. Creative Planning lifted its stake in Atlassian by 32.3% in the third quarter. Creative Planning now owns 7,947 shares of the technology company’s stock worth $1,262,000 after purchasing an additional 1,941 shares during the last quarter. Swedbank AB lifted its stake in Atlassian by 4.2% in the third quarter. Swedbank AB now owns 63,535 shares of the technology company’s stock worth $10,090,000 after purchasing an additional 2,539 shares during the last quarter. Finally, Slow Capital Inc. bought a new stake in Atlassian in the third quarter worth $5,228,000. 94.45% of the stock is owned by 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.