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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction on Monday, April 15th. The stock was sold at an average price of $197.46, for a total transaction of $1,627,267.86. Following the sale, the chief executive officer now directly owns 424,137 shares in the company, valued at approximately $83,750,092.02. The sale 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 Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was 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 transaction 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 transaction of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $195.98, for a total transaction of $1,615,071.18.
• On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $192.21, for a total transaction 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 shares were sold at an average price of $197.83, for a total transaction of $1,630,317.03.
• On Wednesday, March 13th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $210.65, for a total transaction of $1,735,966.65.
• On Thursday, March 7th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $200.73, for a total transaction of $1,654,215.93.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded up $0.92 during trading hours on Wednesday, hitting $195.77. 883,158 shares of the company’s stock were exchanged, compared to its average volume of 1,703,984. Atlassian Co. has a 1-year low of $128.02 and a 1-year high of $258.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $50.78 billion, a price-to-earnings ratio of -131.93 and a beta of 0.63. The company’s 50-day moving average price is $203.04 and its 200-day moving average price is $206.74.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. On average, sell-side analysts expect that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Large investors have recently bought and sold shares of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Atlassian by 12.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock worth $14,763,000 after acquiring an additional 8,073 shares during the last quarter. Arkadios Wealth Advisors bought a new position in Atlassian in the 4th quarter valued at $202,000. American Century Companies Inc. boosted its position in Atlassian by 58.7% in the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after buying an additional 159,102 shares during the last quarter. International Assets Investment Management LLC bought a new position in Atlassian in the 4th quarter valued at $13,805,000. Finally, Royal Bank of Canada boosted its position in shares of Atlassian by 17.3% in the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock worth $76,862,000 after purchasing an additional 56,149 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TEAM has been the topic of several research analyst reports. Citigroup reduced their price objective on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, April 12th. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. Mizuho reduced their price objective on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group lifted their price objective on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Finally, Truist Financial lifted their price objective on Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research note on Tuesday, January 16th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.