Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,721,775.24 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $216.63, for a total transaction of $1,721,775.24. Following the completion of the transaction, the chief executive officer now directly owns 7,948 shares of the company’s stock, valued at approximately $1,721,775.24. This represents a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Thursday, March 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $226.93, for a total value of $1,803,639.64.
• On Tuesday, March 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 shares were 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 stock was sold at an average price of $259.69, for a total transaction 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.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $313.95, for a total transaction of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.90, for a total value of $2,478,981.20.
• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.74, for a total transaction of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $318.91, for a total transaction of $2,534,696.68.

Atlassian Stock Performance

TEAM stock opened at $212.21 on Tuesday. The firm has a market cap of $55.60 billion, a PE ratio of -158.36 and a beta of 0.91. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a 50-day moving average price of $268.47 and a 200-day moving average price of $239.44. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC acquired a new stake in shares of Atlassian in the 3rd quarter valued at about $606,000. Fulton Bank N.A. acquired a new stake in Atlassian in the fourth quarter valued at approximately $447,000. Paloma Partners Management Co acquired a new stake in Atlassian in the third quarter valued at approximately $1,588,000. Allworth Financial LP increased its holdings in shares of Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Atlassian by 20.1% during the fourth quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company’s stock worth $7,458,000 after purchasing an additional 5,088 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on TEAM. Cantor Fitzgerald raised their price target on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. UBS Group boosted their price target on Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Jefferies Financial Group reduced their price objective on shares of Atlassian from $400.00 to $330.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Monday. Finally, Mizuho lifted their price target on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $314.73.

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.