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 Atlassian stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $195.91, for a total transaction of $1,557,092.68. Following the completion of the sale, the chief executive officer now owns 302,024 shares of the company’s stock, valued at $59,169,521.84. This trade represents a 2.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, April 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $195.56, for a total transaction of $1,554,310.88.
• On Friday, April 4th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.28, for a total transaction of $1,496,449.44.
• On Wednesday, April 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.68, for a total value of $1,769,860.64.
• On Monday, March 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $209.73, for a total value of $1,666,934.04.
• On Friday, March 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.63, for a total transaction of $1,721,775.24.
• On Thursday, March 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $226.93, for a total transaction of $1,803,639.64.
• On Tuesday, March 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.90, for a total transaction of $1,723,921.20.
• On Wednesday, March 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $227.55, for a total value of $1,808,567.40.
• On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $259.69, for a total value of $2,064,016.12.
• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $297.51, for a total value of $2,364,609.48.

Atlassian Stock Up 1.3 %

Shares of Atlassian stock traded up $2.62 during trading hours on Monday, reaching $200.99. 2,031,292 shares of the company’s stock were exchanged, compared to its average volume of 2,041,679. The stock has a market cap of $52.66 billion, a P/E ratio of -149.99 and a beta of 1.07. The company has a 50 day moving average of $251.13 and a two-hundred day moving average of $241.80. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, sell-side analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Jefferies Financial Group cut their target price on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Mizuho boosted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Morgan Stanley increased their target price on shares of Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research note on Monday, March 31st. Finally, KeyCorp cut their price target on Atlassian from $365.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday. Seven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $300.00.

Hedge Funds Weigh In On Atlassian

Large investors have recently modified their holdings of the stock. Clean Yield Group increased its stake in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company’s stock worth $25,000 after purchasing an additional 93 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian in the 4th quarter valued at $27,000. Colonial Trust Co SC grew its holdings in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after buying an additional 69 shares in the last quarter. Summit Securities Group LLC bought a new position in Atlassian during the 4th quarter worth $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian during the fourth quarter worth $39,000. 94.45% of the stock is owned by institutional investors.

Atlassian Company Profile

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.