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 Atlassian stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total value of $1,723,921.20. Following the completion of the transaction, the chief executive officer now owns 71,532 shares of the company’s stock, valued at approximately $15,515,290.80. This trade represents a 10.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 transaction of $1,808,567.40.
• On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $259.69, for a total transaction 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 transaction of $2,364,609.48.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $313.95, for a total transaction of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.90, for a total value 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 value 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 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 transaction 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.

Atlassian Price Performance

TEAM stock traded up $10.41 during trading on Wednesday, hitting $229.86. The company had a trading volume of 3,164,268 shares, compared to its average volume of 1,943,066. The business has a 50 day moving average of $272.20 and a 200 day moving average of $235.46. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $60.22 billion, a price-to-earnings ratio of -171.54 and a beta of 0.91. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates 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, research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. State Street Corp raised its stake in Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after buying an additional 8,957 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of Atlassian in the fourth quarter valued at about $687,486,000. Invesco Ltd. increased its stake in shares of Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the period. Finally, FMR LLC boosted its holdings in Atlassian by 7.4% in the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after purchasing an additional 150,237 shares during the period. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TEAM shares. Barclays boosted their price objective on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. William Blair reiterated an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Mizuho upped their target price on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. KeyCorp upped their target price on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $350.00 price objective (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $316.77.

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.