Michael Cannon-Brookes Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $221.41, for a total value of $1,759,766.68. Following the transaction, the chief executive officer now directly owns 111,272 shares in the company, valued at approximately $24,636,733.52. This represents a 6.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, May 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $225.44, for a total value of $1,791,797.12.
• On Monday, May 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.47, for a total value of $1,768,191.56.
• On Thursday, May 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $209.19, for a total transaction of $1,662,642.12.
• On Wednesday, April 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $225.64, for a total transaction of $1,793,386.72.
• On Monday, April 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $229.59, for a total transaction of $1,824,781.32.
• On Wednesday, April 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.23, for a total transaction of $1,670,908.04.
• On Monday, April 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.50, for a total transaction of $1,529,990.00.
• On Wednesday, April 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $205.94, for a total value of $1,636,811.12.
• On Friday, April 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $195.91, for a total value of $1,557,092.68.
• On Wednesday, April 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $195.56, for a total transaction of $1,554,310.88.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $214.47 on Tuesday. The firm has a market cap of $56.30 billion, a P/E ratio of -160.05 and a beta of 1.06. The business’s 50 day moving average is $213.39 and its 200-day moving average is $247.54. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter last year, the business earned $0.89 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on TEAM shares. UBS Group dropped their price target on Atlassian from $230.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Robert W. Baird upgraded shares of Atlassian from a “neutral” rating to an “outperform” rating and reduced their price objective for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. Stephens lowered their price target on Atlassian from $255.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Friday, May 2nd. Truist Financial dropped their price objective on Atlassian from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, Morgan Stanley decreased their target price on shares of Atlassian from $370.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.29.

Hedge Funds Weigh In On Atlassian

A number of hedge funds have recently bought and sold shares of the business. Clean Yield Group boosted its holdings in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after purchasing an additional 93 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC grew its position in Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after buying an additional 69 shares in the last quarter. Smithfield Trust Co increased its stake in Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock worth $34,000 after acquiring an additional 78 shares during the period. Finally, Summit Securities Group LLC bought a new position in Atlassian during the 4th quarter worth $38,000. 94.45% of the stock is owned by institutional investors.

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.