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 company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $278.13, for a total transaction of $2,210,577.24. Following the completion of the transaction, the chief executive officer now directly owns 79,480 shares of the company’s stock, valued at approximately $22,105,772.40. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.20, for a total value of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.79, for a total value of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $264.32, for a total value of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $261.73, for a total transaction of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $239.19, for a total transaction of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $224.33, for a total transaction of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.72, for a total transaction of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 shares were 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 stock was sold at an average price of $189.75, for a total value of $1,508,133.00.

Atlassian Price Performance

Shares of Atlassian stock opened at $250.19 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $65.16 billion, a price-to-earnings ratio of -164.60 and a beta of 0.80. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97. The company has a 50-day simple moving average of $234.80 and a two-hundred day simple moving average of $188.97.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) earnings per share. Analysts forecast that Atlassian Co. will post -0.54 EPS for the current year.

Institutional Trading of Atlassian

Several large investors have recently modified their holdings of the stock. Asset Dedication LLC lifted its position in Atlassian by 229.8% during 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 period. Rothschild Investment LLC acquired a new position in shares of Atlassian in the 2nd quarter valued at approximately $36,000. GAMMA Investing LLC lifted its holdings in shares of Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC boosted its position in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares in the last quarter. Finally, Reston Wealth Management LLC bought a new position in Atlassian in the third quarter valued at approximately $48,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TEAM. Jefferies Financial Group boosted their target price on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Scotiabank boosted their price objective on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Raymond James raised their target price on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Wells Fargo & Company boosted their price target on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Mizuho raised their price objective on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $256.50.

About Atlassian

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.