Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,561,719.88 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88. Following the completion of the transaction, the chief executive officer now directly owns 270,232 shares in the company, valued at approximately $87,098,475.92. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.74, for a total value of $2,509,501.52.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $318.91, for a total value of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.20, for a total value of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.01, for a total value of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.33, for a total value of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $251.20, for a total value of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $236.89, for a total value of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $243.35, for a total value of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $254.95, for a total value of $2,026,342.60.

Atlassian Stock Performance

Shares of TEAM stock opened at $316.00 on Friday. The stock has a market cap of $82.79 billion, a PE ratio of -235.82 and a beta of 0.87. The business has a 50-day simple moving average of $268.61 and a 200-day simple moving average of $216.16. The company has a quick ratio of 1.18, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities analysts expect that Atlassian Co. will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board increased its stake in shares of Atlassian by 81.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 142,236 shares of the technology company’s stock valued at $34,617,000 after purchasing an additional 64,032 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Atlassian by 10,347.4% in the 4th quarter. Marshall Wace LLP now owns 261,185 shares of the technology company’s stock valued at $63,567,000 after purchasing an additional 258,685 shares in the last quarter. NewEdge Advisors LLC increased its stake in shares of Atlassian by 41.2% in the 4th quarter. NewEdge Advisors LLC now owns 3,165 shares of the technology company’s stock valued at $770,000 after purchasing an additional 924 shares in the last quarter. Twin Focus Capital Partners LLC purchased a new position in shares of Atlassian in the 4th quarter valued at about $232,000. Finally, United Capital Financial Advisors LLC increased its stake in shares of Atlassian by 6.0% in the 4th quarter. United Capital Financial Advisors LLC now owns 2,095 shares of the technology company’s stock valued at $510,000 after purchasing an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Mizuho raised their price objective on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. Piper Sandler raised their price objective on Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Macquarie raised their price objective on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Cantor Fitzgerald raised their price objective on Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.71.

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.