Michael Cannon-Brookes Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $216.63, for a total transaction of $1,721,775.24. Following the completion of the transaction, the chief executive officer now directly owns 7,948 shares of the company’s stock, valued at approximately $1,721,775.24. This represents a 50.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, March 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $209.73, for a total transaction of $1,666,934.04.
• On Thursday, March 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $226.93, for a total value of $1,803,639.64.
• On Tuesday, March 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.90, for a total value of $1,723,921.20.
• 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 transaction of $2,064,016.12.
• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $297.51, for a total transaction 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 transaction 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.

Atlassian Stock Up 2.0 %

NASDAQ:TEAM opened at $216.41 on Wednesday. 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 firm has a market cap of $56.70 billion, a P/E ratio of -161.50 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 firm has a 50-day simple moving average of $267.68 and a two-hundred day simple moving average of $239.81.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Murphy & Mullick Capital Management Corp bought a new stake in Atlassian in the 4th quarter worth about $27,000. Colonial Trust Co SC grew its stake in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after acquiring an additional 69 shares during the period. True Wealth Design LLC raised its holdings in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. Summit Securities Group LLC bought a new position in Atlassian during the fourth quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Atlassian in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TEAM shares. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Oppenheimer lifted their price objective on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and upped their target price for the company from $255.00 to $292.00 in a report on Friday, January 10th. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Finally, StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Monday. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $310.18.

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.