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 stock in a transaction on Friday, March 28th. The shares were sold at an average price of $216.63, for a total value of $1,721,775.24. Following the sale, the chief executive officer now owns 7,948 shares in the company, valued at approximately $1,721,775.24. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, March 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $209.73, for a total value of $1,666,934.04.
• On Thursday, March 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $226.93, for a total transaction of $1,803,639.64.
• On Tuesday, March 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.90, for a total transaction of $1,723,921.20.
• On Wednesday, March 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $227.55, for a total transaction of $1,808,567.40.
• On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $259.69, for a total transaction of $2,064,016.12.
• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $297.51, for a total value of $2,364,609.48.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $313.95, for a total value of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.90, for a total transaction of $2,478,981.20.
• 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 transaction of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88.

Atlassian Price Performance

Shares of TEAM opened at $223.96 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market cap of $58.68 billion, a price-to-earnings ratio of -167.13 and a beta of 1.07. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The stock has a 50 day moving average of $266.94 and a 200-day moving average of $239.70.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. As a group, analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian in the 4th quarter worth approximately $27,000. Colonial Trust Co SC increased its position in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after buying an additional 69 shares during the period. True Wealth Design LLC lifted its stake in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Atlassian during the fourth quarter valued at $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian during the fourth quarter worth about $39,000. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. JMP Securities restated a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Macquarie boosted their target price on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Morgan Stanley raised their price target on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Cantor Fitzgerald upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $304.00 to $272.00 in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $308.73.

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.