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 company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96. Following the transaction, the chief executive officer now directly owns 476,880 shares in the company, valued at $115,533,717.60. The trade was a 1.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $246.97, for a total value of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.45, for a total value of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.25, for a total value of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.22, for a total transaction 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 transaction of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.20, for a total transaction of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was 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 transaction of $1,901,082.12.

Atlassian Trading Up 3.3 %

NASDAQ TEAM opened at $250.27 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The company has a 50-day simple moving average of $249.33 and a 200-day simple moving average of $196.29. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The firm has a market capitalization of $65.18 billion, a PE ratio of -164.65 and a beta of 0.83.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted ($0.07) EPS. On average, equities analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on TEAM. Oppenheimer boosted their price objective on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Canaccord Genuity Group increased their price target on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. Piper Sandler boosted their price objective on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. KeyCorp raised their target price on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Finally, Morgan Stanley upped their price target on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $258.00.

Hedge Funds Weigh In On Atlassian

Institutional investors have recently modified their holdings of the company. Dragoneer Investment Group LLC bought a new position in Atlassian in the 2nd quarter worth about $469,803,000. Point72 Asset Management L.P. increased its position in Atlassian by 760.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock valued at $110,972,000 after acquiring an additional 617,566 shares during the period. Two Sigma Advisers LP increased its position in Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after acquiring an additional 551,500 shares during the period. Westfield Capital Management Co. LP bought a new stake in Atlassian during the 3rd quarter valued at $57,149,000. Finally, Parnassus Investments LLC grew its stake in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

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.