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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $215.23, for a total value of $1,649,737.95. Following the transaction, the chief executive officer now directly owns 107,310 shares of the company’s stock, valued at $23,096,331.30. The trade was a 6.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, June 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.09, for a total value of $1,717,483.32.
• On Tuesday, June 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64.
• On Thursday, May 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $205.73, for a total value of $1,635,142.04.
• On Tuesday, May 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.81, for a total value of $1,675,517.88.
• On Friday, May 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $206.57, for a total value of $1,641,818.36.
• On Monday, May 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $214.92, for a total value of $1,708,184.16.
• On Friday, May 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $221.41, for a total value of $1,759,766.68.
• 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 stock was sold at an average price of $209.19, for a total value of $1,662,642.12.

Atlassian Price Performance

NASDAQ TEAM opened at $201.50 on Thursday. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The stock has a 50-day moving average of $210.19 and a 200 day moving average of $243.79. The company has a market capitalization of $52.89 billion, a price-to-earnings ratio of -150.37 and a beta of 0.96. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS 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 company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the company earned $0.89 EPS. Atlassian’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, sell-side analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on TEAM. Canaccord Genuity Group lowered their price objective on Atlassian from $300.00 to $255.00 and set a “buy” rating for the company in a research report on Friday, May 2nd. UBS Group lowered their price objective on Atlassian from $230.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Wall Street Zen upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Cantor Fitzgerald upgraded Atlassian from a “neutral” rating to an “overweight” rating and lowered their price objective for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Finally, Baird R W upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and an average target price of $285.29.

Institutional Investors Weigh In On Atlassian

Large investors have recently made changes to their positions in the company. Clean Yield Group grew its stake in shares of Atlassian by 372.0% during 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 during the 4th quarter valued at about $27,000. Colonial Trust Co SC grew its stake in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after purchasing an additional 69 shares during the period. Smithfield Trust Co grew its stake in shares of Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock valued at $34,000 after purchasing an additional 78 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of Atlassian during the 4th quarter valued at about $38,000. 94.45% of the stock is currently owned by institutional investors.

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.