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

Posted by Gary Stephens on Aug 22nd, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $156.92, for a total value of $1,247,200.16. Following the completion of the transaction, the chief executive officer now owns 214,596 shares in the company, valued at $33,674,404.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

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 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 value of $1,122,496.04.
On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $177.65, for a total value of $1,411,962.20.
On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $169.47, for a total value of $1,346,947.56.
On Monday, July 22nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $175.95, for a total value of $1,398,450.60.
On Wednesday, July 17th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $180.42, for a total value of $1,433,978.16.
On Monday, July 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $180.11, for a total value of $1,431,514.28.
On Wednesday, July 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $173.13, for a total value of $1,376,037.24.

Atlassian Stock Down 1.6 %

NASDAQ:TEAM traded down $2.47 during mid-day trading on Thursday, hitting $155.87. 1,292,607 shares of the company’s stock were exchanged, compared to its average volume of 1,797,084. The business has a fifty day moving average price of $165.50 and a 200 day moving average price of $182.47. The company has a market cap of $40.57 billion, a PE ratio of -251.33 and a beta of 0.74. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 net margin of 6.89% and a negative return on equity of 18.13%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.21) earnings per share. Equities analysts predict that Atlassian Co. will post -0.57 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Hollencrest Capital Management raised its stake in shares of Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares during the last quarter. Asset Dedication LLC raised its stake in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Atlassian in the second quarter worth $36,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in shares of Atlassian in the first quarter worth $40,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Canaccord Genuity Group lowered their price objective on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, April 26th. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and increased their price objective for the company from $200.00 to $230.00 in a report on Friday, August 2nd. 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 research report on Friday, August 2nd. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley cut their price objective on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $217.69.

View Our Latest Stock Analysis 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.