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

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $160.48, for a total value of $1,230,079.20. Following the completion of the sale, the chief executive officer owned 130,305 shares of the company’s stock, valued at approximately $20,911,346.40. This trade represents a 5.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, December 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.08, for a total value of $1,188,688.20.
• On Friday, November 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.12, for a total transaction of $1,150,669.80.
• On Wednesday, November 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $146.62, for a total value of $1,123,842.30.
• On Friday, November 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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 shares were 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 shares were 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 stock was sold at an average price of $155.58, for a total value of $1,192,520.70.

Atlassian Stock Performance

Atlassian stock traded up $1.41 during midday trading on Monday, reaching $160.74. 2,009,411 shares of the company traded hands, compared to its average volume of 2,508,335. Atlassian Corporation PLC has a 12 month low of $139.70 and a 12 month high of $326.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The business has a 50 day moving average of $155.20 and a two-hundred day moving average of $176.93. The firm has a market capitalization of $42.29 billion, a price-to-earnings ratio of -226.39, a price-to-earnings-growth ratio of 30.05 and a beta of 0.89.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The business’s quarterly revenue was up 20.6% on a year-over-year basis. As a group, research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the topic of several research analyst reports. Guggenheim began coverage on shares of Atlassian in a report on Thursday, September 11th. They issued a “buy” rating and a $225.00 target price on the stock. Wells Fargo & Company initiated coverage on shares of Atlassian in a report on Tuesday, September 30th. They issued an “overweight” rating and a $216.00 price target on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $230.00 price objective on shares of Atlassian in a report on Wednesday, October 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $260.00 target price on shares of Atlassian in a report on Friday, October 31st. Finally, TD Cowen decreased their target price on Atlassian from $220.00 to $205.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $240.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TEAM. Allworth Financial LP boosted its position in Atlassian by 21.6% in the 3rd quarter. Allworth Financial LP now owns 3,161 shares of the technology company’s stock valued at $505,000 after buying an additional 561 shares during the period. IFP Advisors Inc raised its stake in shares of Atlassian by 624.6% during the third quarter. IFP Advisors Inc now owns 5,174 shares of the technology company’s stock valued at $826,000 after acquiring an additional 4,460 shares in the last quarter. Swiss Life Asset Management Ltd boosted its holdings in shares of Atlassian by 14.7% in the third quarter. Swiss Life Asset Management Ltd now owns 27,397 shares of the technology company’s stock valued at $4,375,000 after purchasing an additional 3,505 shares during the period. Cambria Investment Management L.P. bought a new position in Atlassian in the third quarter worth approximately $671,000. Finally, CIBC Bancorp USA Inc. purchased a new position in Atlassian during the 3rd quarter worth $1,925,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Company Profile

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.