Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,498,674.88 in Stock

Posted by Alphonse Anthony on Oct 26th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $188.56, for a total value of $1,498,674.88. Following the sale, the chief executive officer now owns 373,556 shares in the company, valued at $70,437,719.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.18, for a total value of $1,527,446.64.
On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.16, for a total value of $1,527,287.68.
On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $193.70, for a total value of $1,539,527.60.
On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $187.54, for a total transaction of $1,490,567.92.
On Wednesday, October 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $176.27, for a total transaction of $1,400,993.96.
On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $159.81, for a total transaction of $1,270,169.88.
On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction of $1,282,012.40.
On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.98, for a total value of $1,287,417.04.
On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.27, for a total value of $1,289,721.96.
On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.56, for a total value of $1,299,974.88.

Atlassian Stock Down 0.3 %

Shares of NASDAQ:TEAM opened at $188.73 on Friday. The company has a market capitalization of $49.13 billion, a price-to-earnings ratio of -299.57 and a beta of 0.73. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The business has a 50-day moving average price of $169.41 and a 200 day moving average price of $171.72. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same period last year, the business earned ($0.21) earnings per share. The business’s revenue for the quarter was up 20.5% on a year-over-year basis. Sell-side analysts expect that Atlassian Co. will post -0.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Robert W. Baird downgraded shares of Atlassian from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $230.00 to $175.00 in a report on Friday, August 2nd. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Oppenheimer reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a report on Monday, September 23rd. Finally, Morgan Stanley lifted their price objective on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $212.47.

Read Our Latest Research Report on TEAM

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Hollencrest Capital Management boosted its position in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after buying an additional 119 shares during the period. Asset Dedication LLC lifted its stake in Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Trust Co. of Vermont boosted its holdings in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares during the period. Rothschild Investment LLC acquired a new position in Atlassian in the 2nd quarter valued at about $36,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Atlassian during the first quarter worth about $40,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

About Atlassian

(Get Free Report)

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.