Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,508,133.00 in Stock

Posted by Max Byerly on Oct 31st, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $189.75, for a total value of $1,508,133.00. Following the transaction, the chief executive officer now owns 357,660 shares in the company, valued at $67,865,985. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.64, for a total transaction of $1,499,310.72.
On Wednesday, October 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.56, for a total transaction of $1,498,674.88.
On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.18, for a total transaction of $1,527,446.64.
On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.16, for a total transaction of $1,527,287.68.
On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 value 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 value of $1,400,993.96.
On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was 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 shares were sold at an average price of $161.98, for a total transaction of $1,287,417.04.

Atlassian Trading Down 0.7 %

NASDAQ TEAM opened at $190.44 on Thursday. The company has a market capitalization of $49.57 billion, a price-to-earnings ratio of -302.29 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The company’s fifty day moving average price is $170.72 and its two-hundred day moving average price is $170.98.

Atlassian (NASDAQ:TEAM – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.21) earnings per share. As a group, research analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Impax Asset Management Group plc lifted its stake in Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after purchasing an additional 31,986 shares during the last quarter. QRG Capital Management Inc. raised its holdings in shares of Atlassian by 22.5% during the third quarter. QRG Capital Management Inc. now owns 6,222 shares of the technology company’s stock worth $988,000 after purchasing an additional 1,143 shares during the period. National Pension Service lifted its position in shares of Atlassian by 8.4% in the 3rd quarter. National Pension Service now owns 296,066 shares of the technology company’s stock worth $47,018,000 after buying an additional 22,883 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Atlassian by 3.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 46,211 shares of the technology company’s stock valued at $7,339,000 after buying an additional 1,327 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in shares of Atlassian by 89.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,158 shares of the technology company’s stock valued at $1,772,000 after buying an additional 5,258 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on TEAM. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective for the company in a research report on Thursday, July 11th. Oppenheimer reiterated an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a report on Monday, September 23rd. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Canaccord Genuity Group upped their target price on Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and raised their target price for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $212.47.

Get Our Latest Analysis on Atlassian

About Atlassian

(Get Free Report)

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.