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

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $163.16, for a total value of $1,250,621.40. Following the completion of the transaction, the chief executive officer directly owned 68,985 shares of the company’s stock, valued at approximately $11,255,592.60. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, December 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.92, for a total value of $1,218,121.80.
• On Friday, December 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.11, for a total value of $1,242,573.15.
• On Wednesday, December 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were 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 stock was 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 stock was sold at an average price of $144.02, for a total value of $1,103,913.30.

Atlassian Stock Up 1.9%

Shares of TEAM opened at $165.00 on Friday. 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 $43.41 billion, a price-to-earnings ratio of -232.39, a price-to-earnings-growth ratio of 30.55 and a beta of 0.89. Atlassian Corporation PLC has a 1 year low of $139.70 and a 1 year high of $326.00. The business’s 50 day simple moving average is $156.82 and its 200-day simple moving average is $174.46.

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. As a group, equities analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capco Asset Management LLC bought a new position in shares of Atlassian in the second quarter worth about $25,000. Physician Wealth Advisors Inc. boosted its position in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after buying an additional 61 shares during the period. Atlantic Union Bankshares Corp boosted its position in Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after buying an additional 199 shares during the period. Geneos Wealth Management Inc. grew its stake in Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian during the third quarter worth approximately $57,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the topic of several recent research reports. Robert W. Baird set a $230.00 target price on shares of Atlassian in a research report on Friday, October 31st. KeyCorp decreased their price objective on Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, October 23rd. Macquarie lowered their price objective on Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Piper Sandler reissued an “overweight” rating and set a $300.00 target price on shares of Atlassian in a research report on Friday, October 31st. Finally, Wells Fargo & Company began coverage on Atlassian in a research report on Tuesday, September 30th. They issued an “overweight” rating and a $216.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $239.23.

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.