Atlassian Co. (NASDAQ:TEAM) CEO Sells 7,948 Shares

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $162.27, for a total value of $1,289,721.96. Following the completion of the sale, the chief executive officer now directly owns 39,740 shares of the company’s stock, valued at $6,448,609.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 stock was 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 stock was 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 shares were 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 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 shares were sold at an average price of $141.23, for a total transaction 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 transaction 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.

Atlassian Price Performance

NASDAQ TEAM traded up $0.64 on Tuesday, reaching $162.62. The company’s stock had a trading volume of 2,233,016 shares, compared to its average volume of 1,787,297. The firm’s 50 day moving average is $161.63 and its two-hundred day moving average is $174.94. The stock has a market cap of $42.33 billion, a PE ratio of -257.11 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69.

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

Institutional Investors Weigh In On Atlassian

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in Atlassian by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 142,466 shares of the technology company’s stock valued at $33,891,000 after buying an additional 2,872 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Atlassian by 255.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after acquiring an additional 291 shares during the period. US Bancorp DE lifted its position in Atlassian by 50.9% during the 4th quarter. US Bancorp DE now owns 51,014 shares of the technology company’s stock worth $12,134,000 after acquiring an additional 17,198 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Atlassian by 37.7% during the fourth quarter. Advisory Services Network LLC now owns 13,058 shares of the technology company’s stock valued at $3,106,000 after acquiring an additional 3,576 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Atlassian by 30.7% in the fourth quarter. Hsbc Holdings PLC now owns 89,446 shares of the technology company’s stock worth $21,298,000 after purchasing an additional 21,012 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on TEAM shares. Scotiabank cut their price target 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. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and increased their price target for the company from $200.00 to $230.00 in a report on Friday, August 2nd. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Barclays decreased their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Oppenheimer reissued an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a report on Monday. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.