Michael Cannon-Brookes Sells 7,665 Shares of Atlassian Corporation PLC (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, June 20th. The stock was sold at an average price of $192.44, for a total value of $1,475,052.60. Following the completion of the transaction, the chief executive officer now owns 45,990 shares in the company, valued at $8,850,315.60. This represents a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, June 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.68, for a total value of $1,476,892.20.
• On Wednesday, June 18th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $196.44, for a total value of $1,505,712.60.
• On Monday, June 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $200.68, for a total value of $1,538,212.20.
• On Thursday, June 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $199.55, for a total value of $1,529,550.75.
• On Monday, June 9th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $215.23, for a total value of $1,649,737.95.
• On Friday, June 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $206.57, for a total value of $1,641,818.36.

Atlassian Stock Up 4.1%

TEAM opened at $200.67 on Wednesday. Atlassian Corporation PLC has a fifty-two week low of $135.29 and a fifty-two week 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 firm’s fifty day moving average price is $210.03 and its two-hundred day moving average price is $239.10. The company has a market capitalization of $52.68 billion, a P/E ratio of -120.89 and a beta of 0.96.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 earnings per share. On average, analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TEAM. Mizuho lowered their price objective on shares of Atlassian from $325.00 to $290.00 and set an “outperform” rating on the stock in a research note on Thursday, June 12th. Barclays lowered their price objective on shares of Atlassian from $350.00 to $260.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Canaccord Genuity Group lowered their price objective on shares of Atlassian from $300.00 to $255.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Baird R W upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. Finally, Wells Fargo & Company lowered their price objective on shares of Atlassian from $330.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $282.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Clean Yield Group lifted its holdings in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after acquiring an additional 93 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian during the fourth quarter valued at $27,000. Colonial Trust Co SC lifted its holdings in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after acquiring an additional 69 shares during the period. Smithfield Trust Co lifted its holdings in shares of Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock valued at $34,000 after acquiring an additional 78 shares during the period. Finally, Summit Securities Group LLC bought a new position in shares of Atlassian during the fourth quarter valued at $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.