Michael Cannon-Brookes Sells 7,665 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $162.11, for a total transaction of $1,242,573.15. Following the sale, the chief executive officer owned 91,980 shares in the company, valued at approximately $14,910,877.80. The trade was a 7.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, December 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.79, for a total transaction of $1,240,120.35.
• On Monday, December 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.70, for a total transaction of $1,231,765.50.
• On Friday, December 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total transaction of $1,230,079.20.
• On Wednesday, December 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.08, for a total transaction of $1,188,688.20.
• On Friday, November 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.12, for a total transaction of $1,150,669.80.
• On Wednesday, November 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $148.29, for a total value of $1,136,642.85.
• On Monday, November 24th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $146.62, for a total value of $1,123,842.30.
• On Friday, November 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $144.02, for a total value of $1,103,913.30.
• On Wednesday, November 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.63, for a total value of $1,131,583.95.
• On Monday, November 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.41, for a total value of $1,129,897.65.

Atlassian Price Performance

Shares of NASDAQ TEAM traded down $2.87 during midday trading on Monday, reaching $159.17. 2,680,729 shares of the stock traded hands, compared to its average volume of 2,495,243. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $41.88 billion, a PE ratio of -224.18, a P/E/G ratio of 30.56 and a beta of 0.89. Atlassian Corporation PLC has a one year low of $139.70 and a one year high of $326.00. The company’s 50 day moving average is $155.86 and its 200 day moving average is $175.26.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.21. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. Atlassian’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 earnings per share. On average, equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on TEAM shares. Robert W. Baird set a $230.00 price target on Atlassian in a report on Friday, October 31st. Truist Financial set a $210.00 target price on shares of Atlassian in a research note on Friday, October 31st. Guggenheim initiated coverage on shares of Atlassian in a research note on Thursday, September 11th. They set a “buy” rating and a $225.00 price target for the company. Canaccord Genuity Group reiterated a “buy” rating and set a $230.00 price target on shares of Atlassian in a report on Wednesday, October 22nd. Finally, Sanford C. Bernstein raised their price objective on shares of Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $240.00.

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State of Wyoming lifted its stake in Atlassian by 20.3% in the first quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after acquiring an additional 47 shares during the period. Physician Wealth Advisors Inc. increased its position in Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of Atlassian by 2.8% in the 1st quarter. EP Wealth Advisors LLC now owns 2,641 shares of the technology company’s stock valued at $561,000 after purchasing an additional 71 shares in the last quarter. Snowden Capital Advisors LLC lifted its position in shares of Atlassian by 1.6% in the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after purchasing an additional 71 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Atlassian by 11.5% during the first quarter. Smartleaf Asset Management LLC now owns 716 shares of the technology company’s stock valued at $156,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

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.