Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,282,012.40 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $161.30, for a total value of $1,282,012.40. Following the sale, the chief executive officer now directly owns 7,948 shares of the company’s stock, valued at $1,282,012.40. The transaction 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 Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $159.81, for a total value of $1,270,169.88.
• On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.98, for a total transaction of $1,287,417.04.
• On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $162.27, for a total transaction of $1,289,721.96.
• On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.56, for a total transaction of $1,299,974.88.
• On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $165.03, for a total transaction of $1,311,658.44.
• On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.97, for a total value of $1,279,389.56.
• On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $166.36, for a total value of $1,322,229.28.
• On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $156.92, for a total value of $1,247,200.16.
• On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 shares were sold at an average price of $141.23, for a total transaction of $1,122,496.04.

Atlassian Stock Down 0.7 %

TEAM stock opened at $160.24 on Thursday. The company has a 50 day moving average price of $159.55 and a two-hundred day moving average price of $172.90. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $41.67 billion, a P/E ratio of -254.35 and a beta of 0.73. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. As a group, sell-side analysts expect that Atlassian Co. will post -0.58 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on TEAM. Morgan Stanley lowered their target price on shares of 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 dropped their price objective on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research note on Friday, August 2nd. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Piper Sandler raised Atlassian from a “neutral” rating to an “overweight” rating and upped their target price for the company from $200.00 to $225.00 in a report on Tuesday, July 2nd. Finally, Wells Fargo & Company decreased their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $216.65.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management grew its holdings in Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after purchasing an additional 119 shares during the period. Asset Dedication LLC raised its stake in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the period. Trust Co. of Vermont boosted its holdings in shares of Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Atlassian during the 2nd quarter valued at $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian during the 1st quarter worth $40,000. 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.