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 dated Tuesday, December 24th. The shares were sold at an average price of $255.25, for a total value of $2,028,727.00. Following the sale, the chief executive officer now directly owns 31,792 shares in the company, valued at approximately $8,114,908. The trade was a 20.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.22, for a total value 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 shares were 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 shares were sold at an average price of $278.79, for a total value 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 value of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $261.73, for a total value of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $239.19, for a total value of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total value of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.72, for a total value of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.56, for a total value of $1,530,466.88.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $250.11 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50 day moving average price is $243.87 and its 200-day moving average price is $193.32. The firm has a market capitalization of $65.14 billion, a PE ratio of -164.54 and a beta of 0.80. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $287.97.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for 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%. The business’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) earnings per share. As a group, equities research analysts expect that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Financial Advocates Investment Management boosted its stake in Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after buying an additional 62 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Atlassian by 13.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,502 shares of the technology company’s stock worth $5,749,000 after buying an additional 3,958 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Atlassian by 189.7% during the second quarter. Panagora Asset Management Inc. now owns 15,204 shares of the technology company’s stock worth $2,689,000 after buying an additional 9,955 shares during the last quarter. KCM Investment Advisors LLC raised its position in Atlassian by 108.0% in the second quarter. KCM Investment Advisors LLC now owns 4,950 shares of the technology company’s stock valued at $876,000 after purchasing an additional 2,570 shares during the period. Finally, Azzad Asset Management Inc. ADV raised its position in Atlassian by 22.8% in the second quarter. Azzad Asset Management Inc. ADV now owns 1,721 shares of the technology company’s stock valued at $304,000 after purchasing an additional 320 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on TEAM shares. Raymond James raised their price objective on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley lifted their price target on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Wells Fargo & Company lifted their price target on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. KeyCorp lifted their price target on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Mizuho lifted their price target on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $258.00.

Atlassian Company Profile

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.