Michael Cannon-Brookes Sells 8,241 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $191.53, for a total value of $1,578,398.73. Following the transaction, the chief executive officer now owns 391,173 shares in the company, valued at approximately $74,921,364.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.26, for a total value of $1,617,378.66.
• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.46, for a total transaction of $1,627,267.86.
• On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $201.81, for a total transaction of $1,663,116.21.
• On Monday, April 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.71, for a total value of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.25, for a total value of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $195.98, for a total value of $1,615,071.18.
• On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $193.55, for a total transaction of $1,595,045.55.
• On Monday, March 25th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $192.21, for a total value of $1,584,002.61.
• On Wednesday, March 20th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $195.12, for a total transaction of $1,607,983.92.
• On Friday, March 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.83, for a total value of $1,630,317.03.

Atlassian Price Performance

NASDAQ TEAM opened at $199.44 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $51.74 billion, a PE ratio of -133.85 and a beta of 0.63. Atlassian Co. has a 12-month low of $128.02 and a 12-month high of $258.69. The company has a 50 day moving average price of $201.18 and a two-hundred day moving average price of $206.81.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. As a group, equities analysts predict that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after purchasing an additional 504,181 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Atlassian by 3.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock valued at $2,435,095,000 after purchasing an additional 326,673 shares during the period. WCM Investment Management LLC lifted its stake in shares of Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after buying an additional 249,017 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after purchasing an additional 1,511,318 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of Atlassian by 1.1% during the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock worth $1,218,765,000 after buying an additional 63,903 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TEAM. Truist Financial increased their price objective on shares of Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Mizuho reduced their price objective on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, April 15th. Finally, The Goldman Sachs Group boosted their target price on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Atlassian currently has a consensus rating of “Hold” and an average target price of $224.25.

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.