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 business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $315.74, for a total transaction of $2,509,501.52. Following the sale, the chief executive officer now directly owns 254,336 shares in the company, valued at $80,304,048.64. The trade was a 3.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $318.91, for a total value of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.20, for a total value of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.01, for a total transaction of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.33, for a total transaction of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $251.20, for a total transaction of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $236.89, for a total transaction of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $243.35, for a total value of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $254.95, for a total value of $2,026,342.60.

Atlassian Trading Down 0.8 %

Shares of TEAM opened at $316.00 on Friday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. The firm has a fifty day simple moving average of $268.61 and a two-hundred day simple moving average of $216.16.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Hedge funds have recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian in the fourth quarter worth $27,000. Summit Securities Group LLC bought a new position in Atlassian in the 4th quarter worth $38,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Atlassian in the 4th quarter worth about $39,000. Avion Wealth boosted its stake in shares of Atlassian by 1,308.3% during the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after purchasing an additional 157 shares in the last quarter. Finally, Assetmark Inc. increased its position in shares of Atlassian by 30.6% during the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after buying an additional 41 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TEAM shares. Truist Financial reaffirmed a “buy” rating and issued a $350.00 target price (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. UBS Group raised their price objective on shares of Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley upped their target price on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Canaccord Genuity Group raised their price target on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Jefferies Financial Group upped their price objective on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $319.71.

Atlassian Company Profile

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.