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 Atlassian stock in a transaction on Monday, January 13th. The stock was sold at an average price of $236.89, for a total transaction of $1,882,801.72. Following the sale, the chief executive officer now directly owns 421,244 shares in the company, valued at approximately $99,788,491.16. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $243.35, for a total transaction of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $254.95, for a total transaction of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $246.97, for a total transaction of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.45, for a total transaction of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.25, for a total transaction of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.22, for a total transaction of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.13, for a total transaction of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.20, for a total transaction of $2,211,133.60.

Atlassian Stock Performance

Shares of Atlassian stock opened at $250.03 on Thursday. The firm has a market capitalization of $65.12 billion, a P/E ratio of -164.49 and a beta of 0.83. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. 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 firm’s 50 day moving average is $255.66 and its two-hundred day moving average is $201.07.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates 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 revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.07) earnings per share. Research analysts forecast that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Morgan Stanley increased their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Scotiabank increased their price target on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Jefferies Financial Group increased their price target on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Raymond James increased their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company increased their price target on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $266.10.

Hedge Funds Weigh In On Atlassian

Several hedge funds have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale grew its position in shares of Atlassian by 42.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 37,788 shares of the technology company’s stock worth $6,666,000 after acquiring an additional 11,176 shares during the last quarter. Meeder Advisory Services Inc. grew its position in shares of Atlassian by 23.5% during the second quarter. Meeder Advisory Services Inc. now owns 1,616 shares of the technology company’s stock worth $286,000 after acquiring an additional 307 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Atlassian during the second quarter worth approximately $444,000. Thoroughbred Financial Services LLC purchased a new position in shares of Atlassian during the second quarter worth approximately $717,000. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Atlassian by 38.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 40,869 shares of the technology company’s stock worth $7,229,000 after acquiring an additional 11,262 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.