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 stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total value of $1,723,921.20. Following the completion of the transaction, the chief executive officer now owns 71,532 shares in the company, valued at approximately $15,515,290.80. The trade was a 10.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, March 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $227.55, for a total value of $1,808,567.40.
• On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $259.69, for a total value of $2,064,016.12.
• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $297.51, for a total value of $2,364,609.48.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $313.95, for a total value of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.90, for a total value of $2,478,981.20.
• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $315.74, for a total value of $2,509,501.52.
• 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 shares were 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 shares were sold at an average price of $269.01, for a total value of $2,138,091.48.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $229.86 on Thursday. The stock has a market cap of $60.22 billion, a PE ratio of -171.54 and a beta of 0.91. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a fifty day moving average of $271.91 and a 200-day moving average of $235.42.

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

Hedge Funds Weigh In On Atlassian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 111 Capital purchased a new position in Atlassian during the fourth quarter worth about $465,000. Wealth Enhancement Advisory Services LLC grew its position in Atlassian by 62.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,567 shares of the technology company’s stock worth $3,059,000 after buying an additional 4,837 shares in the last quarter. Siemens Fonds Invest GmbH grew its position in Atlassian by 16.8% during the fourth quarter. Siemens Fonds Invest GmbH now owns 2,011 shares of the technology company’s stock worth $489,000 after buying an additional 289 shares in the last quarter. Menard Financial Group LLC purchased a new position in Atlassian during the fourth quarter worth about $810,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Atlassian during the fourth quarter worth about $25,279,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TEAM. Stephens began coverage on Atlassian in a report on Wednesday. They issued an “equal weight” rating and a $255.00 target price on the stock. Oppenheimer lifted their price target on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Mizuho lifted their price target on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Scotiabank lifted their price target on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company lifted their price target on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $316.77.

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.