Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,527,287.68 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $192.16, for a total value of $1,527,287.68. Following the completion of the sale, the chief executive officer now owns 397,400 shares of the company’s stock, valued at $76,364,384. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $193.70, for a total value of $1,539,527.60.
• On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $187.54, for a total transaction of $1,490,567.92.
• On Wednesday, October 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $176.27, for a total transaction of $1,400,993.96.
• On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $159.81, for a total transaction of $1,270,169.88.
• On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction of $1,282,012.40.
• On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was 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 transaction of $1,279,389.56.

Atlassian Price Performance

TEAM traded up $1.13 during trading on Monday, reaching $192.83. 1,730,719 shares of the company traded hands, compared to its average volume of 1,785,574. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The firm has a fifty day simple moving average of $164.91 and a 200 day simple moving average of $171.56. The company has a market cap of $50.14 billion, a P/E ratio of -166.05 and a beta of 0.73.

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

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in TEAM. First Trust Direct Indexing L.P. raised its holdings in shares of Atlassian by 1.5% in the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after acquiring an additional 55 shares in the last quarter. Financial Advocates Investment Management boosted its position in Atlassian by 1.7% in the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after buying an additional 62 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in Atlassian by 1.4% in the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock valued at $890,000 after buying an additional 65 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Atlassian by 0.4% in the first quarter. Daiwa Securities Group Inc. now owns 19,544 shares of the technology company’s stock valued at $3,813,000 after buying an additional 72 shares during the last quarter. Finally, SkyView Investment Advisors LLC lifted its holdings in Atlassian by 2.1% in the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after acquiring an additional 80 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TEAM has been the subject of a number of analyst reports. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $200.00 to $225.00 in a research note on Tuesday, July 2nd. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Scotiabank lowered their price target on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Canaccord Genuity Group lifted their price target on shares of Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $215.12.

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.