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 firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $259.69, for a total value of $2,064,016.12. Following the completion of the transaction, the chief executive officer now owns 135,116 shares of the company’s stock, valued at approximately $35,088,274.04. This represents a 5.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $297.51, for a total value of $2,364,609.48.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $313.95, for a total value of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.90, for a total value of $2,478,981.20.
• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.74, for a total value of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $318.91, for a total value of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.20, for a total value of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $269.01, for a total value of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.33, for a total value of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $251.20, for a total value of $1,996,537.60.

Atlassian Stock Down 4.7 %

TEAM stock opened at $238.86 on Friday. The stock’s 50 day simple moving average is $276.11 and its 200 day simple moving average is $232.17. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $62.58 billion, a P/E ratio of -178.25 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several analyst reports. Mizuho lifted their price objective on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Macquarie boosted their price target on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. The Goldman Sachs Group boosted their price target on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. William Blair reissued an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Finally, Truist Financial reissued a “buy” rating and set a $350.00 price target (up previously from $300.00) on shares of Atlassian in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp purchased a new stake in shares of Atlassian in the fourth quarter worth approximately $27,000. Colonial Trust Co SC raised its stake in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after purchasing an additional 69 shares during the last quarter. True Wealth Design LLC raised its stake in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Atlassian in the fourth quarter worth approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Atlassian during the fourth quarter valued at approximately $39,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.