Atlassian (NASDAQ:TEAM) CEO Sells $1,254,453.90 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $163.66, for a total value of $1,254,453.90. Following the completion of the sale, the chief executive officer directly owned 7,665 shares in the company, valued at approximately $1,254,453.90. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, December 31st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.68, for a total value of $1,246,942.20.
• On Friday, December 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.53, for a total transaction of $1,245,792.45.
• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.40, for a total transaction of $1,244,796.00.
• On Tuesday, December 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction of $1,236,364.50.
• 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 shares were sold at an average price of $158.92, for a total transaction 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 stock was sold at an average price of $160.70, for a total value 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.

Atlassian Price Performance

Shares of Atlassian stock opened at $162.14 on Thursday. The stock has a market cap of $42.66 billion, a price-to-earnings ratio of -228.36, a price-to-earnings-growth ratio of 25.23 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a 50 day moving average price of $158.09 and a 200-day moving average price of $171.31. Atlassian Corporation PLC has a one year low of $139.70 and a one year high of $326.00.

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

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Capco Asset Management LLC purchased a new position in shares of Atlassian during the second quarter valued at $25,000. Physician Wealth Advisors Inc. lifted its stake in Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after acquiring an additional 61 shares during the period. Atlantic Union Bankshares Corp grew its holdings in Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after acquiring an additional 199 shares in the last quarter. Geneos Wealth Management Inc. increased its position in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian in the 3rd quarter valued at about $57,000. 94.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TEAM shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $240.00 price target on shares of Atlassian in a report on Friday, October 31st. Wells Fargo & Company began coverage on Atlassian in a research note on Tuesday, September 30th. They set an “overweight” rating and a $216.00 target price on the stock. Mizuho increased their price target on Atlassian from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Truist Financial set a $210.00 price objective on Atlassian in a report on Friday, October 31st. Finally, UBS Group cut their price objective on Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.23.

About Atlassian

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.