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 stock in a transaction on Monday, September 16th. The stock was sold at an average price of $165.03, for a total value of $1,311,658.44. Following the completion of the sale, the chief executive officer now owns 79,480 shares in the company, valued at approximately $13,116,584.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 shares were 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 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 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 shares were sold at an average price of $175.95, for a total value of $1,398,450.60.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $155.82 on Wednesday. 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 quick ratio of 1.18 and a current ratio of 1.18. The company’s fifty day moving average price is $162.94 and its 200 day moving average price is $176.05. The company has a market capitalization of $40.56 billion, a PE ratio of -247.33 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last posted 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 firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the firm earned ($0.21) EPS. On average, research analysts predict that Atlassian Co. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TEAM shares. Wells Fargo & Company dropped their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Barclays lowered 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. BMO Capital Markets lowered their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a report on Friday, August 2nd. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and raised their price target for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $217.69.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TEAM. Dragoneer Investment Group LLC acquired a new position in Atlassian during the second quarter worth $469,803,000. Norges Bank acquired a new position in Atlassian during the fourth quarter worth $247,740,000. Price T Rowe Associates Inc. MD raised its position in Atlassian by 8.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after acquiring an additional 904,138 shares during the period. Manning & Napier Advisors LLC acquired a new position in Atlassian during the second quarter worth $91,072,000. Finally, Vanguard Group Inc. raised its position in Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after acquiring an additional 504,181 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

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.