Michael Cannon-Brookes Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $243.35, for a total transaction of $1,934,145.80. Following the sale, the chief executive officer now directly owns 445,088 shares of the company’s stock, valued at $108,312,164.80. This represents a 1.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $254.95, for a total value of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $242.27, for a total value of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $246.97, for a total value of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.45, for a total transaction of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.25, for a total transaction of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.22, for a total transaction of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.13, for a total value of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.20, for a total value of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.79, for a total transaction of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $264.32, for a total transaction of $2,100,815.36.

Atlassian Stock Down 1.4 %

TEAM opened at $244.49 on Friday. The company has a fifty day moving average of $252.85 and a two-hundred day moving average of $198.51. The stock has a market capitalization of $63.67 billion, a price-to-earnings ratio of -160.85 and a beta of 0.83. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Atlassian’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.07) EPS. On average, research analysts expect that Atlassian Co. will post -0.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in Atlassian during the third quarter valued at $606,000. Sequoia Financial Advisors LLC raised its position in shares of Atlassian by 37.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after purchasing an additional 520 shares during the last quarter. Paloma Partners Management Co purchased a new position in Atlassian in the 3rd quarter valued at about $1,588,000. Impax Asset Management Group plc boosted its holdings in Atlassian by 590.6% in the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after buying an additional 31,986 shares during the last quarter. Finally, Parnassus Investments LLC increased its stake in Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after buying an additional 245,286 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Truist Financial upgraded shares of Atlassian from a “hold” rating to a “buy” rating and raised their target price for the company from $250.00 to $300.00 in a research note on Tuesday. Canaccord Genuity Group raised their price objective on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets upped their target price on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their price target on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, UBS Group boosted their price objective on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Nine research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $264.25.

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.