Atlassian (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 7,665 Shares

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $155.08, for a total transaction of $1,188,688.20. Following the transaction, the chief executive officer directly owned 145,635 shares of the company’s stock, valued at $22,585,075.80. This represents a 5.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Friday, November 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $150.12, for a total value of $1,150,669.80.
• On Wednesday, November 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $148.29, for a total value of $1,136,642.85.
• On Monday, November 24th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $146.62, for a total transaction of $1,123,842.30.
• On Friday, November 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $144.02, for a total transaction of $1,103,913.30.
• On Wednesday, November 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.63, for a total transaction of $1,131,583.95.
• On Monday, November 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.41, for a total transaction of $1,129,897.65.
• On Thursday, November 13th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $153.77, for a total value of $1,178,647.05.
• On Monday, November 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.00, for a total value of $1,211,070.00.
• On Friday, November 7th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.58, for a total value of $1,192,520.70.
• On Wednesday, November 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.66, for a total value of $1,246,788.90.

Atlassian Stock Up 0.7%

TEAM opened at $157.68 on Friday. The firm has a market cap of $41.49 billion, a price-to-earnings ratio of -221.74, a PEG ratio of 29.57 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The firm’s 50-day simple moving average is $155.35 and its 200-day simple moving average is $177.80. Atlassian Corporation PLC has a twelve month low of $139.70 and a twelve month high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.77 earnings per share. Equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Truist Financial set a $210.00 target price on Atlassian in a research note on Friday, October 31st. Cowen restated a “hold” rating on shares of Atlassian in a research report on Monday, October 27th. Barclays dropped their target price on shares of Atlassian from $244.00 to $215.00 and set an “overweight” rating for the company in a research note on Friday, August 8th. Stephens decreased their price target on shares of Atlassian from $221.00 to $202.00 and set an “equal weight” rating on the stock in a research note on Monday, August 11th. Finally, Mizuho upped their price objective on Atlassian from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $240.00.

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Wyoming raised its position in shares of Atlassian by 20.3% in the 1st quarter. State of Wyoming now owns 278 shares of the technology company’s stock valued at $59,000 after acquiring an additional 47 shares during the period. Physician Wealth Advisors Inc. raised its holdings in Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after purchasing an additional 61 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Atlassian by 2.8% during the first quarter. EP Wealth Advisors LLC now owns 2,641 shares of the technology company’s stock worth $561,000 after purchasing an additional 71 shares in the last quarter. Snowden Capital Advisors LLC grew its holdings in shares of Atlassian by 1.6% in the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after buying an additional 71 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Atlassian by 11.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 716 shares of the technology company’s stock valued at $156,000 after buying an additional 74 shares during the period. Institutional investors own 94.45% of the company’s stock.

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.