Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,770,178.56 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $222.72, for a total transaction of $1,770,178.56. Following the sale, the chief executive officer now owns 317,920 shares in the company, valued at $70,807,142.40. This trade represents a 0.00 % decrease in their ownership of the stock. 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 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 stock was 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 shares were 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 stock was sold at an average price of $188.56, for a total value 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 shares were 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.
• 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 stock was 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.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $225.57 on Thursday. 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 12-month low of $135.29 and a 12-month high of $258.69. The company’s 50 day moving average price is $176.79 and its two-hundred day moving average price is $171.90. The firm has a market cap of $58.65 billion, a PE ratio of -148.40 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.07) earnings per share. Equities research analysts predict that Atlassian Co. will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of the company. Asset Dedication LLC raised its position in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares in the last quarter. Trust Co. of Vermont raised its position in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC bought a new stake in Atlassian during the second quarter worth $36,000. GAMMA Investing LLC boosted its holdings in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Atlassian in the 1st quarter valued at $40,000. Institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

TEAM has been the topic of several recent analyst reports. Raymond James boosted their price target on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Oppenheimer boosted their target price on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Canaccord Genuity Group increased their price target on shares of Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, November 1st. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Finally, Barclays cut their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.16.

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.