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 the firm’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $187.54, for a total value of $1,490,567.92. Following the completion of the transaction, the chief executive officer now owns 437,140 shares in the company, valued at $81,981,235.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 value of $1,400,993.96.
• On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $159.81, for a total value of $1,270,169.88.
• On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction of $1,282,012.40.
• On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.98, for a total transaction of $1,287,417.04.
• On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.27, for a total transaction of $1,289,721.96.
• On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.56, for a total value of $1,299,974.88.
• 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 shares were 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 shares were sold at an average price of $166.36, for a total transaction of $1,322,229.28.
• On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $156.92, for a total transaction of $1,247,200.16.

Atlassian Price Performance

Shares of TEAM stock opened at $187.06 on Friday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The firm has a 50 day moving average price of $159.83 and a two-hundred day moving average price of $171.99. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm’s quarterly 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. Research analysts predict that Atlassian Co. will post -0.58 earnings per share for the current year.

Institutional Trading of Atlassian

Several hedge funds and other institutional investors have recently bought and sold shares of TEAM. Hollencrest Capital Management raised its position in shares of Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares in the last quarter. Asset Dedication LLC lifted its position in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after acquiring an additional 108 shares during the period. Trust Co. of Vermont grew its holdings in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of Atlassian in the second quarter worth $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in Atlassian in the first quarter valued at about $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TEAM shares. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and upped their target price for the stock from $200.00 to $230.00 in a research note on Friday, August 2nd. Canaccord Genuity Group increased their price objective on Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Wells Fargo & Company decreased their price target on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Finally, Morgan Stanley boosted their price objective on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $216.29.

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.