Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,527,446.64 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $192.18, for a total value of $1,527,446.64. Following the transaction, the chief executive officer now owns 389,452 shares of the company’s stock, valued at $74,844,885.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.16, for a total value of $1,527,287.68.
• On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $193.70, for a total value 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 shares were sold at an average price of $159.81, for a total transaction 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 value 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 value 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 value 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 shares were sold at an average price of $165.03, for a total transaction of $1,311,658.44.

Atlassian Stock Performance

NASDAQ:TEAM opened at $193.87 on Wednesday. The firm has a 50-day moving average of $166.97 and a two-hundred day moving average of $171.54. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market cap of $50.41 billion, a P/E ratio of -167.13 and a beta of 0.73. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69.

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

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in TEAM. Hollencrest Capital Management boosted its stake in Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the last quarter. Asset Dedication LLC lifted its position in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Trust Co. of Vermont grew its stake in Atlassian by 2,175.0% in the second 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 stake in Atlassian in the second quarter valued at about $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Atlassian during the first quarter valued at approximately $40,000. Institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their target price for the company from $200.00 to $230.00 in a report on Friday, August 2nd. BMO Capital Markets dropped their price objective on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $200.00 to $225.00 in a report on Tuesday, July 2nd. Canaccord Genuity Group upped their price target on Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Mizuho lifted their price objective on Atlassian from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $212.47.

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.