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

Posted by Defense World Staff on Oct 2nd, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $159.81, for a total transaction of $1,270,169.88. Following the completion of the sale, the chief executive officer now owns 500,724 shares of the company’s stock, valued at $80,020,702.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total value of $1,282,012.40.
On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.98, for a total value of $1,287,417.04.
On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.27, for a total value of $1,289,721.96.
On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.56, for a total transaction of $1,299,974.88.
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 transaction 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 value 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 value 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 value of $1,247,200.16.
On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $151.62, for a total value of $1,205,075.76.
On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $141.23, for a total transaction of $1,122,496.04.

Atlassian Trading Down 0.7 %

TEAM stock traded down $1.18 during midday trading on Wednesday, hitting $160.24. The stock had a trading volume of 926,479 shares, compared to its average volume of 1,779,088. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The business has a fifty day moving average price of $159.70 and a two-hundred day moving average price of $172.99. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The firm has a market cap of $41.67 billion, a P/E ratio of -256.22 and a beta of 0.73.

Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter last year, the firm posted ($0.21) EPS. The company’s quarterly revenue was up 20.5% on a year-over-year basis. On average, sell-side analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Asset Dedication LLC raised its holdings in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares during the last quarter. Hollencrest Capital Management grew its holdings in Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after buying an additional 119 shares in the last quarter. Trust Co. of Vermont raised its position in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after buying an additional 174 shares during the last quarter. Rothschild Investment LLC bought a new position in Atlassian during the 2nd quarter valued at $36,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Atlassian during the 1st quarter worth $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TEAM. The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Oppenheimer reiterated an “outperform” rating and set a $230.00 price target on shares of Atlassian in a report on Monday, September 23rd. JMP Securities raised Atlassian to a “hold” rating in a report on Friday, August 2nd. Truist Financial lowered their target price on Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Finally, Robert W. Baird lowered Atlassian from an “outperform” rating to a “neutral” rating and cut their price target for the company from $230.00 to $175.00 in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $216.65.

Check Out Our Latest Research Report on Atlassian

Atlassian Company Profile

(Get Free Report)

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.