Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 8,241 Shares

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $196.26, for a total value of $1,617,378.66. Following the completion of the sale, the chief executive officer now directly owns 407,655 shares of the company’s stock, valued at $80,006,370.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.46, for a total value of $1,627,267.86.
• On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $201.81, for a total value of $1,663,116.21.
• On Monday, April 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.71, for a total transaction of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.25, for a total transaction of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $195.98, for a total transaction of $1,615,071.18.
• On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $193.55, for a total value of $1,595,045.55.
• On Monday, March 25th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $192.21, for a total transaction of $1,584,002.61.
• On Wednesday, March 20th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $195.12, for a total transaction of $1,607,983.92.
• On Friday, March 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.83, for a total value of $1,630,317.03.
• On Wednesday, March 13th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $210.65, for a total value of $1,735,966.65.

Atlassian Stock Performance

NASDAQ:TEAM traded down $1.46 during trading hours on Thursday, reaching $193.61. 1,084,797 shares of the company’s stock were exchanged, compared to its average volume of 1,703,329. Atlassian Co. has a 1-year low of $128.02 and a 1-year high of $258.69. The firm has a market capitalization of $50.22 billion, a price-to-earnings ratio of -130.92 and a beta of 0.63. The company has a 50-day moving average of $202.75 and a 200 day moving average of $206.66. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. Research analysts anticipate that Atlassian Co. will post -0.4 EPS for the current year.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of analyst reports. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. The Goldman Sachs Group raised their price target on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Mizuho dropped their target price on Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Monday. KeyCorp began coverage on shares of Atlassian in a report on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Finally, UBS Group dropped their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Atlassian has an average rating of “Hold” and an average target price of $224.25.

Hedge Funds Weigh In On Atlassian

A number of institutional investors have recently made changes to their positions in the stock. Graypoint LLC raised its stake in Atlassian by 2.4% during the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after purchasing an additional 42 shares during the period. Legacy Wealth Asset Management LLC increased its position in shares of Atlassian by 1.4% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after acquiring an additional 43 shares during the last quarter. Park National Corp OH raised its position in shares of Atlassian by 3.5% in the 4th quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock valued at $342,000 after purchasing an additional 48 shares in the last quarter. UMB Bank n.a. boosted its stake in Atlassian by 5.7% during the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock valued at $248,000 after acquiring an additional 56 shares during the last quarter. Finally, Carmel Capital Partners LLC increased its holdings in Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after buying an additional 57 shares during the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

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.