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 firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $255.22, for a total value of $2,028,488.56. Following the completion of the sale, the chief executive officer now directly owns 47,688 shares of the company’s stock, valued at $12,170,931.36. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value 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.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 stock was 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 shares were 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 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 transaction of $1,499,310.72.

Atlassian Price Performance

Shares of TEAM opened at $257.26 on Monday. The business’s 50-day moving average is $237.54 and its two-hundred day moving average is $190.54. The company has a market capitalization of $67.00 billion, a P/E ratio of -169.25 and a beta of 0.80. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Principal Financial Group Inc. grew its position in shares of Atlassian by 61.4% during the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock valued at $1,710,000 after acquiring an additional 4,099 shares during the period. Oddo BHF Asset Management Sas purchased a new position in Atlassian during the third quarter worth approximately $11,438,000. Tri Ri Asset Management Corp acquired a new stake in Atlassian in the third quarter valued at approximately $2,584,000. Synovus Financial Corp increased its position in shares of Atlassian by 26.4% in the third quarter. Synovus Financial Corp now owns 19,962 shares of the technology company’s stock valued at $3,170,000 after buying an additional 4,173 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Atlassian by 143.2% during the 3rd quarter. Tidal Investments LLC now owns 12,605 shares of the technology company’s stock worth $2,002,000 after buying an additional 7,422 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

TEAM has been the subject of several recent research reports. UBS Group boosted their price target on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Mizuho upped their target price on Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Robert W. Baird lifted their price target on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Scotiabank upped their price objective on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. 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. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $258.00.

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.