Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,962,917.56 in Stock

Posted by Lauren Steadman on Dec 31st, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $246.97, for a total value of $1,962,917.56. Following the transaction, the chief executive officer now directly owns 7,948 shares of the company’s stock, valued at approximately $1,962,917.56. The trade was a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.45, for a total value of $2,030,316.60.
On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.25, for a total transaction of $2,028,727.00.
On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.22, for a total value of $2,028,488.56.
On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.13, for a total transaction of $2,210,577.24.
On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.20, for a total transaction of $2,211,133.60.
On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.79, for a total value of $2,215,822.92.
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 transaction 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 transaction of $1,782,974.84.

Atlassian Trading Down 1.2 %

Shares of TEAM stock traded down $3.01 on Monday, reaching $247.10. The company had a trading volume of 799,078 shares, compared to its average volume of 1,867,405. The stock has a market cap of $64.35 billion, a PE ratio of -162.56 and a beta of 0.80. The company has a 50-day moving average of $243.87 and a 200-day moving average of $193.75. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $287.97.

Atlassian (NASDAQ:TEAM – Get Free Report) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business posted ($0.07) earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, equities analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

A number of hedge funds have recently modified their holdings of TEAM. Dragoneer Investment Group LLC bought a new stake in Atlassian during the 2nd quarter worth approximately $469,803,000. Point72 Asset Management L.P. boosted its position in Atlassian by 760.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after acquiring an additional 617,566 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after acquiring an additional 551,500 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Atlassian during the 3rd quarter worth about $57,149,000. Finally, Parnassus Investments LLC increased its position in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after acquiring an additional 245,286 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Truist Financial raised their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock a “hold” rating in a research report on Thursday, December 12th. Morgan Stanley lifted their target price on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. KeyCorp upped their price target on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Macquarie assumed coverage on Atlassian in a report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price objective on the stock. Finally, Robert W. Baird upped their target price on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $258.00.

Read Our Latest Report on TEAM

About Atlassian

(Get Free Report)

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.