Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,666,934.04 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $209.73, for a total value of $1,666,934.04. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, March 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.63, for a total transaction of $1,721,775.24.
• On Thursday, March 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $226.93, for a total transaction of $1,803,639.64.
• On Tuesday, March 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.90, for a total transaction of $1,723,921.20.
• On Wednesday, March 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $227.55, for a total value of $1,808,567.40.
• On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $259.69, for a total value of $2,064,016.12.
• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $297.51, for a total value of $2,364,609.48.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $313.95, for a total value 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 shares were 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 shares were sold at an average price of $322.31, for a total transaction of $2,561,719.88.

Atlassian Stock Performance

NASDAQ:TEAM opened at $223.96 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a fifty day moving average of $266.94 and a 200-day moving average of $239.70. The firm has a market capitalization of $58.68 billion, a P/E ratio of -167.13 and a beta of 1.07.

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

Analysts Set New Price Targets

TEAM has been the subject of a number of research reports. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and increased their price target for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Morgan Stanley lifted their price target on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Oppenheimer upped their price objective on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Wells Fargo & Company raised their price objective on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, JMP Securities reissued a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $308.73.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Atlassian during the 3rd quarter valued at $606,000. Fulton Bank N.A. acquired a new position in shares of Atlassian during the fourth quarter valued at about $447,000. Paloma Partners Management Co bought a new stake in shares of Atlassian during the third quarter worth about $1,588,000. Allworth Financial LP raised its holdings in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after acquiring an additional 47 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Atlassian by 20.1% in the 4th quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company’s stock valued at $7,458,000 after acquiring an additional 5,088 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

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.