Atlassian (NASDAQ:TEAM) CEO Sells $1,236,364.50 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $161.30, for a total value of $1,236,364.50. Following the completion of the sale, the chief executive officer directly owned 45,990 shares in the company, valued at approximately $7,418,187. This represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.40, for a total transaction of $1,244,796.00.
• On Wednesday, December 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.16, for a total transaction of $1,250,621.40.
• On Monday, December 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.92, for a total value of $1,218,121.80.
• On Friday, December 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.11, for a total transaction of $1,242,573.15.
• On Wednesday, December 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.79, for a total value of $1,240,120.35.
• On Monday, December 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.70, for a total transaction of $1,231,765.50.
• On Friday, December 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total value of $1,230,079.20.
• On Wednesday, December 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total value of $1,188,688.20.
• On Friday, November 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $150.12, for a total transaction of $1,150,669.80.
• On Wednesday, November 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $148.29, for a total value of $1,136,642.85.

Atlassian Trading Down 1.3%

TEAM traded down $2.06 on Tuesday, hitting $162.39. The company had a trading volume of 1,858,326 shares, compared to its average volume of 2,494,999. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm has a market cap of $42.73 billion, a P/E ratio of -228.72, a PEG ratio of 24.94 and a beta of 0.89. Atlassian Corporation PLC has a 1 year low of $139.70 and a 1 year high of $326.00. The company’s fifty day moving average price is $157.46 and its 200 day moving average price is $173.26.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned $0.77 EPS. The company’s revenue was up 20.6% on a year-over-year basis. As a group, equities analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. increased its stake in shares of Atlassian by 113.5% during the 1st quarter. Raymond James Financial Inc. now owns 82,703 shares of the technology company’s stock worth $17,550,000 after purchasing an additional 43,960 shares during the last quarter. Martingale Asset Management L P acquired a new position in shares of Atlassian in the first quarter valued at approximately $427,000. Compound Planning Inc. lifted its position in shares of Atlassian by 29.7% in the 1st quarter. Compound Planning Inc. now owns 2,344 shares of the technology company’s stock worth $497,000 after purchasing an additional 537 shares during the period. Smartleaf Asset Management LLC increased its holdings in Atlassian by 11.5% in the first quarter. Smartleaf Asset Management LLC now owns 716 shares of the technology company’s stock worth $156,000 after purchasing an additional 74 shares in the last quarter. Finally, Quantitative Investment Management LLC boosted its position in shares of Atlassian by 17.2% during the 1st quarter. Quantitative Investment Management LLC now owns 5,075 shares of the technology company’s stock worth $1,076,000 after purchasing an additional 745 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and set a $300.00 price objective on shares of Atlassian in a report on Friday, October 31st. Cowen reissued a “hold” rating on shares of Atlassian in a research note on Monday, October 27th. Sanford C. Bernstein lifted their price objective on shares of Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Bank of America assumed coverage on Atlassian in a report on Tuesday, September 23rd. They set a “neutral” rating and a $200.00 price objective for the company. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $260.00 price target on shares of Atlassian in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $239.23.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.