Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,499,310.72 in Stock

Posted by Tammy Falkenburg on Oct 31st, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $188.64, for a total transaction of $1,499,310.72. Following the completion of the sale, the chief executive officer now directly owns 349,712 shares in the company, valued at approximately $65,969,671.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $189.75, for a total transaction of $1,508,133.00.
On Wednesday, October 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.56, for a total value of $1,498,674.88.
On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 stock was 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 stock was 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 shares were 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 stock was 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 value 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.

Atlassian Price Performance

TEAM opened at $190.44 on Thursday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The firm has a 50-day moving average of $170.72 and a 200 day moving average of $170.98. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $49.57 billion, a P/E ratio of -302.29 and a beta of 0.73.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective on the stock in a research note on Thursday, July 11th. JMP Securities raised shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. BMO Capital Markets dropped their price target on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research report on Friday, August 2nd. Finally, Oppenheimer reissued an “outperform” rating and set a $230.00 price objective on shares of Atlassian in a report on Monday, September 23rd. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $212.47.

Check Out Our Latest Stock Report on Atlassian

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of TEAM. Dragoneer Investment Group LLC purchased a new position in shares of Atlassian during the 2nd quarter valued at $469,803,000. Price T Rowe Associates Inc. MD raised its stake in Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after acquiring an additional 904,138 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Atlassian during the second quarter valued at about $91,072,000. Quadrature Capital Ltd bought a new position in Atlassian during the first quarter worth about $55,307,000. Finally, Swedbank AB purchased a new position in shares of Atlassian in the first quarter worth about $50,923,000. 93.03% of the stock is owned by institutional investors.

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.