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 company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $160.97, for a total value of $1,279,389.56. Following the sale, the chief executive officer now owns 135,116 shares of the company’s stock, valued at $21,749,622.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $166.36, for a total transaction of $1,322,229.28.
• On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $156.92, for a total transaction of $1,247,200.16.
• On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $151.62, for a total transaction of $1,205,075.76.
• On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $141.23, for a total transaction of $1,122,496.04.
• On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $144.73, for a total value of $1,150,314.04.
• On Wednesday, July 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.07, for a total value of $1,407,352.36.
• On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.65, for a total value of $1,411,962.20.
• On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 transaction 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.

Atlassian Stock Performance

Shares of TEAM opened at $161.31 on Friday. The stock has a 50-day moving average of $165.86 and a 200-day moving average of $178.87. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $41.95 billion, a PE ratio of -256.05 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. Atlassian’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period last year, the business earned ($0.21) EPS. On average, equities research analysts predict that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on TEAM shares. Robert W. Baird cut shares of Atlassian from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $230.00 to $175.00 in a research note on Friday, August 2nd. Morgan Stanley reduced their price target on Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. BMO Capital Markets lowered their price objective on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. Barclays reduced their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, Truist Financial lowered their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.69.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Atlassian by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after purchasing an additional 504,181 shares during the last quarter. Diversified Trust Co raised its position in Atlassian by 27.6% in the 1st quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock valued at $2,739,000 after buying an additional 3,035 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Atlassian by 7.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock worth $27,723,000 after acquiring an additional 10,434 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Atlassian by 2.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock valued at $34,213,000 after purchasing an additional 3,687 shares during the last quarter. Finally, Alberta Investment Management Corp lifted its position in shares of Atlassian by 16.1% during the 4th quarter. Alberta Investment Management Corp now owns 96,211 shares of the technology company’s stock worth $22,885,000 after buying an additional 13,328 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.