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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $222.47, for a total transaction of $1,768,191.56. Following the completion of the sale, the chief executive officer now directly owns 143,064 shares in the company, valued at approximately $31,827,448.08. The trade was a 5.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Thursday, May 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $209.19, for a total transaction of $1,662,642.12.
• On Wednesday, April 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $225.64, for a total transaction of $1,793,386.72.
• On Monday, April 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $229.59, for a total transaction of $1,824,781.32.
• On Wednesday, April 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.23, for a total transaction of $1,670,908.04.
• On Monday, April 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.50, for a total transaction of $1,529,990.00.
• On Wednesday, April 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $205.94, for a total transaction of $1,636,811.12.
• On Friday, April 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $195.91, for a total transaction of $1,557,092.68.
• On Wednesday, April 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $195.56, for a total transaction of $1,554,310.88.
• On Friday, April 4th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.28, for a total transaction of $1,496,449.44.
• On Wednesday, April 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.68, for a total transaction of $1,769,860.64.

Atlassian Price Performance

NASDAQ:TEAM opened at $229.52 on Wednesday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $214.30 and a 200 day simple moving average of $246.65. The stock has a market capitalization of $60.13 billion, a PE ratio of -171.28 and a beta of 1.06.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the business earned $0.89 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. On average, research analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently added to or reduced their stakes in the business. Brooklyn Investment Group lifted its holdings in Atlassian by 12.3% during the 1st quarter. Brooklyn Investment Group now owns 1,111 shares of the technology company’s stock valued at $236,000 after purchasing an additional 122 shares during the last quarter. Makena Capital Management LLC lifted its holdings in Atlassian by 48.7% during the 1st quarter. Makena Capital Management LLC now owns 45,688 shares of the technology company’s stock valued at $9,695,000 after purchasing an additional 14,959 shares during the last quarter. Algert Global LLC acquired a new stake in Atlassian during the 1st quarter valued at $4,701,000. Northwest & Ethical Investments L.P. lifted its holdings in Atlassian by 208.0% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 4,466 shares of the technology company’s stock valued at $946,000 after purchasing an additional 3,016 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in Atlassian by 113.5% during the 1st quarter. Raymond James Financial Inc. now owns 82,703 shares of the technology company’s stock valued at $17,550,000 after purchasing an additional 43,960 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TEAM. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Monday, March 31st. Scotiabank increased their target price on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Citigroup increased their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Cantor Fitzgerald raised Atlassian from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Finally, Macquarie decreased their price target on shares of Atlassian from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $285.29.

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.