Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,215,822.92 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $278.79, for a total transaction of $2,215,822.92. Following the transaction, the chief executive officer now directly owns 135,116 shares in the company, valued at $37,668,989.64. This trade represents a 5.56 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.32, for a total value of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $261.73, for a total value of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $239.19, for a total value of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total value of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.72, for a total value of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.56, for a total transaction of $1,530,466.88.
• On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.64, for a total value of $1,499,310.72.
• On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.75, for a total value of $1,508,133.00.
• On Wednesday, October 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.56, for a total value of $1,498,674.88.
• On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.18, for a total transaction of $1,527,446.64.

Atlassian Trading Up 0.6 %

TEAM stock opened at $278.50 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company’s 50 day moving average is $217.88 and its two-hundred day moving average is $183.09. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) EPS. As a group, equities research analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Robert W. Baird boosted their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Oppenheimer raised their target price on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. BMO Capital Markets boosted their target price on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Finally, Truist Financial increased their price objective on shares of Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.74.

Hedge Funds Weigh In On Atlassian

A number of institutional investors have recently modified their holdings of the business. Gateway Investment Advisers LLC grew its holdings in shares of Atlassian by 50.3% during the second quarter. Gateway Investment Advisers LLC now owns 10,255 shares of the technology company’s stock worth $1,814,000 after buying an additional 3,434 shares during the last quarter. MJP Associates Inc. ADV increased its stake in Atlassian by 16.2% in the 2nd quarter. MJP Associates Inc. ADV now owns 2,397 shares of the technology company’s stock valued at $424,000 after buying an additional 334 shares during the period. RFG Advisory LLC raised its position in Atlassian by 5.8% during the 2nd quarter. RFG Advisory LLC now owns 2,065 shares of the technology company’s stock worth $365,000 after buying an additional 113 shares during the last quarter. D.B. Root & Company LLC acquired a new stake in shares of Atlassian in the 2nd quarter worth $293,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of Atlassian by 25.3% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 767 shares of the technology company’s stock valued at $140,000 after acquiring an additional 155 shares in the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

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.