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 on Wednesday, June 26th. The stock was sold at an average price of $170.45, for a total transaction of $1,354,736.60. Following the transaction, the chief executive officer now owns 15,896 shares in the company, valued at $2,709,473.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, June 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.95, for a total transaction of $1,303,074.60.
• On Friday, June 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $159.43, for a total transaction of $1,267,149.64.
• On Wednesday, June 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.54, for a total value of $1,299,815.92.
• On Tuesday, May 28th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $165.51, for a total value of $1,363,967.91.
• On Tuesday, May 21st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $178.45, for a total value of $1,470,606.45.
• On Tuesday, May 14th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $184.26, for a total value of $1,518,486.66.
• On Friday, May 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $179.88, for a total transaction of $1,482,391.08.
• On Wednesday, May 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $178.93, for a total transaction of $1,474,562.13.
• On Monday, May 6th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $182.45, for a total transaction of $1,503,570.45.
• On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $172.99, for a total value of $1,425,610.59.

Atlassian Stock Performance

Atlassian stock opened at $176.88 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The stock has a market cap of $46.04 billion, a PE ratio of -280.76 and a beta of 0.73. Atlassian Co. has a 12-month low of $152.34 and a 12-month high of $258.69. The business’s 50-day moving average price is $172.25 and its two-hundred day moving average price is $201.54.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm’s revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.40) EPS. As a group, analysts expect that Atlassian Co. will post -0.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TEAM. Arkadios Wealth Advisors bought a new stake in Atlassian during the 4th quarter worth $202,000. Vanguard Group Inc. grew its holdings in shares of Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after purchasing an additional 504,181 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Atlassian by 58.7% during the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after purchasing an additional 159,102 shares during the last quarter. International Assets Investment Management LLC bought a new position in Atlassian in the 4th quarter valued at approximately $13,805,000. Finally, Royal Bank of Canada boosted its position in Atlassian by 17.3% during the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock worth $76,862,000 after buying an additional 56,149 shares during the period. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TEAM. Piper Sandler lowered their target price on Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Canaccord Genuity Group dropped their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a report on Friday, April 26th. KeyCorp started coverage on shares of Atlassian in a research report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. Finally, StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Friday, June 7th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.28.

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.