Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,299,974.88 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $163.56, for a total transaction of $1,299,974.88. Following the completion of the transaction, the chief executive officer now directly owns 55,636 shares of the company’s stock, valued at $9,099,824.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $165.03, for a total value of $1,311,658.44.
• On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.97, for a total value of $1,279,389.56.
• On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $166.36, for a total value of $1,322,229.28.
• On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $156.92, for a total transaction of $1,247,200.16.
• On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $151.62, for a total transaction of $1,205,075.76.
• On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $141.23, for a total value of $1,122,496.04.
• On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $144.73, for a total value of $1,150,314.04.
• On Wednesday, July 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.07, for a total transaction of $1,407,352.36.
• On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.65, for a total transaction of $1,411,962.20.
• On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.47, for a total value of $1,346,947.56.

Atlassian Stock Performance

TEAM stock opened at $163.08 on Friday. The firm has a market cap of $42.41 billion, a price-to-earnings ratio of -258.86 and a beta of 0.73. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The business’s fifty day simple moving average is $161.99 and its two-hundred day simple moving average is $175.54.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. Atlassian’s revenue was up 20.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.21) EPS. Analysts predict that Atlassian Co. will post -0.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TEAM shares. Scotiabank reduced their price objective on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Mizuho decreased their price target on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 16th. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Robert W. Baird downgraded shares of Atlassian from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $230.00 to $175.00 in a report on Friday, August 2nd. Finally, Wells Fargo & Company lowered their price target on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $217.69.

Hedge Funds Weigh In On Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after buying an additional 504,181 shares during the last quarter. Diversified Trust Co increased its holdings in shares of Atlassian by 27.6% during the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock valued at $2,739,000 after acquiring an additional 3,035 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Atlassian by 7.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after purchasing an additional 10,434 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Atlassian by 2.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $34,213,000 after purchasing an additional 3,687 shares in the last quarter. Finally, Alberta Investment Management Corp grew its position in Atlassian by 16.1% during the 4th quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock worth $22,885,000 after purchasing an additional 13,328 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other 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.