Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 7,948 Shares

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $177.65, for a total value of $1,411,962.20. Following the completion of the sale, the chief executive officer now owns 357,660 shares of the company’s stock, valued at approximately $63,538,299. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.47, for a total value of $1,346,947.56.
• On Monday, July 22nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $175.95, for a total value of $1,398,450.60.
• On Wednesday, July 17th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $180.42, for a total transaction of $1,433,978.16.
• On Monday, July 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $180.11, for a total transaction of $1,431,514.28.
• On Wednesday, July 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $173.13, for a total transaction of $1,376,037.24.
• On Monday, July 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $182.56, for a total value of $1,450,986.88.
• On Wednesday, June 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $170.45, for a total value of $1,354,736.60.
• On Monday, June 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.95, for a total value of $1,303,074.60.
• On Friday, June 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $159.43, for a total transaction of $1,267,149.64.
• On Wednesday, June 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.54, for a total transaction of $1,299,815.92.

Atlassian Trading Up 0.5 %

TEAM traded up $0.82 during trading on Monday, hitting $178.14. 1,036,941 shares of the stock were exchanged, compared to its average volume of 1,703,399. Atlassian Co. has a 1 year low of $152.34 and a 1 year high of $258.69. The firm has a market cap of $46.37 billion, a price-to-earnings ratio of -281.46 and a beta of 0.74. The firm has a 50 day simple moving average of $170.19 and a 200 day simple moving average of $193.56. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the company posted ($0.40) earnings per share. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, equities analysts expect that Atlassian Co. will post -0.22 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TEAM. Raymond James Financial Services Advisors Inc. raised its position in shares of Atlassian by 0.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 18,278 shares of the technology company’s stock worth $4,348,000 after acquiring an additional 62 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Atlassian by 8.6% during the fourth quarter. Global Retirement Partners LLC now owns 946 shares of the technology company’s stock valued at $228,000 after buying an additional 75 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Atlassian by 0.9% in the 4th quarter. State of Alaska Department of Revenue now owns 42,580 shares of the technology company’s stock valued at $10,128,000 after buying an additional 390 shares in the last quarter. ICICI Prudential Asset Management Co Ltd grew its position in shares of Atlassian by 10.3% in the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 1,504 shares of the technology company’s stock worth $358,000 after buying an additional 140 shares during the last quarter. Finally, Opal Wealth Advisors LLC raised its stake in shares of Atlassian by 6.7% during the 4th quarter. Opal Wealth Advisors LLC now owns 1,243 shares of the technology company’s stock worth $296,000 after acquiring an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TEAM shares. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $200.00 to $225.00 in a report on Tuesday, July 2nd. Truist Financial decreased their price target on Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, April 26th. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Finally, Robert W. Baird reduced their target price on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $228.81.

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.