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 stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $222.68, for a total value of $1,769,860.64. Following the completion of the sale, the chief executive officer now directly owns 357,660 shares of the company’s stock, valued at approximately $79,643,728.80. The trade was a 2.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $209.73, for a total value of $1,666,934.04.
• On Friday, March 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.63, for a total transaction of $1,721,775.24.
• On Thursday, March 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $226.93, for a total transaction of $1,803,639.64.
• On Tuesday, March 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.90, for a total transaction 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 shares were 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 transaction of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.90, for a total transaction 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 transaction of $2,509,501.52.

Atlassian Stock Down 5.4 %

TEAM opened at $187.67 on Friday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company’s 50-day moving average price is $264.05 and its two-hundred day moving average price is $239.57. The stock has a market cap of $49.17 billion, a price-to-earnings ratio of -140.05 and a beta of 1.07. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data 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 net margin of 7.22% and a negative return on equity of 17.37%. As a group, equities analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on TEAM shares. Raymond James reaffirmed an “outperform” rating and issued a $330.00 target price (up from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Piper Sandler boosted their price objective on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Oppenheimer increased their target price on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Macquarie boosted their price target on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company raised their price objective on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $308.73.

Institutional Investors Weigh In On Atlassian

Several large investors have recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian during the fourth quarter valued at about $27,000. Colonial Trust Co SC lifted its stake in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after buying an additional 69 shares in the last quarter. Summit Securities Group LLC bought a new position in Atlassian in the 4th quarter worth approximately $38,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian in the 4th quarter valued at approximately $39,000. Finally, Avion Wealth raised its holdings in 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 acquiring an additional 157 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.