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 company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $225.64, for a total value of $1,793,386.72. Following the sale, the chief executive officer now owns 206,648 shares of the company’s stock, valued at $46,628,054.72. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, April 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $229.59, for a total value of $1,824,781.32.
• On Wednesday, April 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $210.23, for a total value of $1,670,908.04.
• On Monday, April 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.50, for a total transaction of $1,529,990.00.
• On Wednesday, April 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $205.94, for a total transaction of $1,636,811.12.
• On Friday, April 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $195.91, for a total transaction of $1,557,092.68.
• On Wednesday, April 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $195.56, for a total value of $1,554,310.88.
• On Friday, April 4th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.28, for a total value of $1,496,449.44.
• On Wednesday, April 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.68, for a total value of $1,769,860.64.
• 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 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.

Atlassian Stock Down 9.0 %

Atlassian stock opened at $208.48 on Friday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm’s 50-day simple moving average is $222.61 and its 200 day simple moving average is $245.06. 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 stock has a market cap of $54.62 billion, a PE ratio of -155.58 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the company posted $0.89 earnings per share. Atlassian’s quarterly revenue was up 14.1% on a year-over-year basis. Research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. KeyCorp cut their target price on Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Cantor Fitzgerald raised Atlassian from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Oppenheimer lifted their price objective on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Finally, StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $289.57.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently made changes to their positions in the business. Clean Yield Group raised its position in Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company’s stock worth $25,000 after acquiring an additional 93 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlassian during the 4th quarter worth approximately $27,000. Colonial Trust Co SC lifted its stake in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after purchasing an additional 69 shares during the last quarter. Summit Securities Group LLC bought a new position in Atlassian during the fourth quarter valued at $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian during the fourth quarter valued at $39,000. 94.45% of the stock is currently owned by institutional investors.

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.