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 the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $311.20, for a total value of $2,473,417.60. Following the completion of the sale, the chief executive officer now owns 309,972 shares of the company’s stock, valued at approximately $96,463,286.40. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $269.01, for a total value of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.33, for a total value of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $251.20, for a total value of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $236.89, for a total value of $1,882,801.72.
• 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 value of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $243.35, for a total value of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $254.95, for a total value of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $242.27, for a total value of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $246.97, for a total value of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.45, for a total value of $2,030,316.60.

Atlassian Stock Up 1.7 %

Shares of NASDAQ:TEAM opened at $316.73 on Wednesday. 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 business’s 50 day moving average price is $262.61 and its 200-day moving average price is $210.38. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $324.37.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 18.00% and a negative net margin of 7.22%. On average, equities analysts anticipate that Atlassian Co. will post -0.55 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avion Wealth boosted its stake in Atlassian by 1,308.3% during the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after buying an additional 157 shares during the last quarter. True Wealth Design LLC boosted its stake in Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Atlassian during the fourth quarter worth $56,000. GAMMA Investing LLC boosted its stake in Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new stake in Atlassian in the third quarter valued at $48,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the subject of several recent research reports. Citigroup lifted their price target on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Robert W. Baird lifted their price target on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Monday. Canaccord Genuity Group lifted their price target on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company lifted their price target on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $318.43.

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.