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 Monday, August 4th. The shares were sold at an average price of $185.43, for a total value of $1,421,320.95. Following the sale, the chief executive officer directly owned 306,600 shares of the company’s stock, valued at $56,852,838. The trade was a 2.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, August 1st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $184.43, for a total value of $1,413,655.95.
• On Wednesday, July 30th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $197.88, for a total value of $1,516,750.20.
• On Monday, July 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $202.05, for a total transaction of $1,548,713.25.
• On Friday, July 25th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.55, for a total transaction of $1,552,545.75.
• On Wednesday, July 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.78, for a total transaction of $1,554,308.70.
• On Monday, July 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $194.98, for a total transaction of $1,494,521.70.
• On Friday, July 18th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.82, for a total value of $1,477,965.30.
• On Wednesday, July 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $189.37, for a total value of $1,451,521.05.
• On Monday, July 14th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.06, for a total value of $1,472,139.90.
• On Friday, July 11th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.64, for a total transaction of $1,476,585.60.

Atlassian Trading Up 0.0%

NASDAQ TEAM opened at $185.50 on Thursday. The stock’s 50-day simple moving average is $200.82 and its two-hundred day simple moving average is $227.26. Atlassian Corporation PLC has a twelve month low of $136.84 and a twelve month high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $48.70 billion, a price-to-earnings ratio of -111.75 and a beta of 0.96.

Wall Street Analyst Weigh In

TEAM has been the topic of several research reports. Oppenheimer lowered their price target on shares of Atlassian from $300.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, July 21st. Wells Fargo & Company lowered their target price on shares of Atlassian from $330.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, May 2nd. Raymond James Financial restated an “outperform” rating and set a $300.00 target price (down previously from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Morgan Stanley reduced their price target on Atlassian from $370.00 to $320.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, BMO Capital Markets dropped their price objective on Atlassian from $295.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $274.05.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently modified their holdings of TEAM. Clean Yield Group grew its position in 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 last quarter. Colonial Trust Co SC grew its holdings 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 last quarter. Smithfield Trust Co lifted its stake in Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock worth $34,000 after purchasing an additional 78 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after buying an additional 161 shares during the period. Finally, GeoWealth Management LLC grew its stake in shares of Atlassian by 26.8% during the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company’s stock valued at $44,000 after buying an additional 38 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other 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.