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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $163.56, for a total value of $1,299,974.88. Following the completion of the transaction, the chief executive officer now owns 55,636 shares in the company, valued at approximately $9,099,824.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $165.03, for a total value of $1,311,658.44.
• On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.97, for a total transaction of $1,279,389.56.
• On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $166.36, for a total transaction of $1,322,229.28.
• On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $156.92, for a total transaction of $1,247,200.16.
• On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $151.62, for a total transaction of $1,205,075.76.
• On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $141.23, for a total value of $1,122,496.04.
• On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $144.73, for a total value of $1,150,314.04.
• On Wednesday, July 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.07, for a total value of $1,407,352.36.
• On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.65, for a total transaction of $1,411,962.20.
• On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.47, for a total transaction of $1,346,947.56.

Atlassian Stock Down 0.0 %

NASDAQ TEAM opened at $163.08 on Friday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50-day moving average is $161.99 and its 200 day moving average is $175.54. The stock has a market capitalization of $42.41 billion, a PE ratio of -258.86 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) earnings per share. Sell-side analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently modified their holdings of TEAM. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Atlassian during the 2nd quarter valued at approximately $12,846,000. University of Texas Texas AM Investment Management Co. bought a new position in Atlassian in the second quarter worth $462,000. Sanctuary Advisors LLC purchased a new position in Atlassian during the second quarter valued at $1,022,000. New Century Financial Group LLC bought a new stake in shares of Atlassian during the 2nd quarter valued at $397,000. Finally, Truist Financial Corp increased its stake in shares of Atlassian by 2.5% in the 2nd quarter. Truist Financial Corp now owns 84,358 shares of the technology company’s stock worth $14,921,000 after acquiring an additional 2,050 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

TEAM has been the subject of a number of research reports. Truist Financial reduced their target price on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. BMO Capital Markets lowered their target price on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research note on Friday, August 2nd. Barclays cut their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Scotiabank dropped their price objective on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Finally, JMP Securities raised shares of Atlassian to a “hold” rating in a report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.69.

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.