Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,769,860.64 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $222.68, for a total transaction of $1,769,860.64. Following the sale, the chief executive officer now directly owns 357,660 shares in the company, valued at $79,643,728.80. The trade was a 2.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 transaction of $1,666,934.04.
• On Friday, March 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.63, for a total transaction of $1,721,775.24.
• 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 value 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 value 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 value of $1,808,567.40.
• On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 transaction of $2,364,609.48.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $313.95, for a total transaction 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 value of $2,509,501.52.

Atlassian Stock Performance

NASDAQ:TEAM opened at $187.67 on Friday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a 50 day moving average price of $264.05 and a 200 day moving average price of $240.16. The stock has a market capitalization of $49.17 billion, a P/E ratio of -140.05 and a beta of 1.07.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Raymond James reaffirmed an “outperform” rating and issued a $330.00 price target (up from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Scotiabank upped their target price on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Morgan Stanley boosted their price target on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Stephens started coverage on shares of Atlassian in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $255.00 price objective for the company. Finally, BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and upped their price target for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $308.73.

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc boosted its stake in shares of Atlassian by 77.9% in the first quarter. Versant Capital Management Inc now owns 386 shares of the technology company’s stock valued at $82,000 after purchasing an additional 169 shares during the period. First Hawaiian Bank purchased a new position in Atlassian in the 1st quarter valued at approximately $292,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Atlassian by 82.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company’s stock worth $52,000 after acquiring an additional 110 shares in the last quarter. 111 Capital purchased a new stake in shares of Atlassian during the fourth quarter worth $465,000. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Atlassian by 62.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,567 shares of the technology company’s stock worth $3,059,000 after acquiring an additional 4,837 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.