Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 8,241 Shares

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $182.45, for a total transaction of $1,503,570.45. Following the completion of the sale, the chief executive officer now directly owns 300,522 shares in the company, valued at approximately $54,830,238.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $172.99, for a total transaction of $1,425,610.59.
• On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.95, for a total transaction of $1,474,726.95.
• On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $191.53, for a total transaction of $1,578,398.73.
• On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.26, for a total transaction of $1,617,378.66.
• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.46, for a total transaction of $1,627,267.86.
• On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $201.81, for a total transaction of $1,663,116.21.
• On Monday, April 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.71, for a total transaction of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.25, for a total transaction of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $195.98, for a total transaction of $1,615,071.18.
• On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $193.55, for a total transaction of $1,595,045.55.

Atlassian Stock Up 1.3 %

Shares of NASDAQ TEAM opened at $184.12 on Wednesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The firm has a market capitalization of $47.93 billion, a PE ratio of -292.25 and a beta of 0.67. The firm has a fifty day simple moving average of $196.34 and a two-hundred day simple moving average of $205.97.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the business earned ($0.40) EPS. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. Equities analysts expect that Atlassian Co. will post -0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TEAM shares. TD Cowen cut their price target on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Friday, April 26th. The Goldman Sachs Group boosted their price target on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Piper Sandler cut their price target on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. UBS Group cut their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Finally, KeyCorp began coverage on shares of Atlassian in a report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $223.22.

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Graypoint LLC grew its position in shares of Atlassian by 2.4% in the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after buying an additional 42 shares during the period. Legacy Wealth Asset Management LLC grew its position in shares of Atlassian by 1.4% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after buying an additional 43 shares during the period. Park National Corp OH grew its position in shares of Atlassian by 3.5% in the 4th quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after buying an additional 48 shares during the period. First Trust Direct Indexing L.P. grew its position in shares of Atlassian by 1.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after buying an additional 55 shares during the period. Finally, UMB Bank n.a. grew its position in shares of Atlassian by 5.7% in the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after buying an additional 56 shares during the period. 93.03% of the stock is 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.