Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,534,696.68 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $318.91, for a total value of $2,534,696.68. Following the transaction, the chief executive officer now directly owns 294,076 shares in the company, valued at approximately $93,783,777.16. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.20, for a total value of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.01, for a total transaction of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.33, for a total transaction of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $236.89, for a total transaction of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The shares were 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 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 stock was sold at an average price of $246.97, for a total transaction of $1,962,917.56.

Atlassian Trading Down 0.6 %

Shares of TEAM opened at $319.00 on Friday. The company has a 50 day moving average price of $263.77 and a 200-day moving average price of $211.16. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $324.37. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 18.00% and a negative net margin of 7.22%. As a group, research analysts forecast that Atlassian Co. will post -0.55 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Atlassian during the 4th quarter worth approximately $326,000. E Fund Management Co. Ltd. increased its stake in Atlassian by 28.3% during the 4th quarter. E Fund Management Co. Ltd. now owns 1,916 shares of the technology company’s stock valued at $466,000 after purchasing an additional 423 shares in the last quarter. Candriam S.C.A. increased its stake in Atlassian by 12.7% during the 4th quarter. Candriam S.C.A. now owns 11,740 shares of the technology company’s stock valued at $2,857,000 after purchasing an additional 1,319 shares in the last quarter. Vestmark Advisory Solutions Inc. increased its stake in Atlassian by 40.1% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 2,845 shares of the technology company’s stock valued at $692,000 after purchasing an additional 815 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in Atlassian during the 4th quarter valued at approximately $238,000. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TEAM shares. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group upped their price target on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Piper Sandler increased their target price on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Canaccord Genuity Group raised their target price on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. Finally, JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research note on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.