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, November 18th. The stock was sold at an average price of $239.19, for a total value of $1,901,082.12. Following the sale, the chief executive officer now directly owns 230,492 shares of the company’s stock, valued at approximately $55,131,381.48. This represents a 3.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total value of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.72, for a total value of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.56, for a total value of $1,530,466.88.
• On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.64, for a total value of $1,499,310.72.
• On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $189.75, for a total value of $1,508,133.00.
• On Wednesday, October 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.56, for a total value of $1,498,674.88.
• On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.18, for a total value of $1,527,446.64.
• On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.16, for a total value of $1,527,287.68.
• On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $193.70, for a total value of $1,539,527.60.
• On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $187.54, for a total value of $1,490,567.92.

Atlassian Trading Up 3.8 %

NASDAQ:TEAM traded up $9.04 on Tuesday, reaching $247.73. The company’s stock had a trading volume of 2,377,212 shares, compared to its average volume of 1,868,590. 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 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $64.52 billion, a PE ratio of -161.20 and a beta of 0.71. The business’s 50-day moving average price is $189.47 and its two-hundred day moving average price is $175.00.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) earnings per share. Equities research analysts anticipate that Atlassian Co. will post -0.56 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dragoneer Investment Group LLC acquired a new position in Atlassian during the second quarter worth approximately $469,803,000. Price T Rowe Associates Inc. MD grew 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 buying an additional 904,138 shares in the last quarter. Point72 Asset Management L.P. grew its position in Atlassian by 760.5% during the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after buying an additional 617,566 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after purchasing an additional 551,500 shares during the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in Atlassian during the second quarter worth $91,072,000. Institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TEAM shares. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group raised Atlassian from a “neutral” rating to a “buy” rating and raised their target price for the company from $200.00 to $230.00 in a report on Friday, August 2nd. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price for the company in a research report on Friday, November 1st. UBS Group lifted their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Piper Sandler lifted their target price on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $244.21.

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.