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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $196.26, for a total transaction of $1,617,378.66. Following the completion of the sale, the chief executive officer now directly owns 407,655 shares in the company, valued at $80,006,370.30. The transaction 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 Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.46, for a total transaction of $1,627,267.86.
• 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 value 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 stock was sold at an average price of $195.98, for a total value 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 value 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 value 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 value of $1,630,317.03.
• On Wednesday, March 13th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $210.65, for a total transaction of $1,735,966.65.

Atlassian Stock Performance

TEAM stock traded down $1.46 during midday trading on Thursday, reaching $193.61. 1,084,797 shares of the company were exchanged, compared to its average volume of 1,703,329. The firm has a market capitalization of $50.22 billion, a price-to-earnings ratio of -130.92 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The business has a 50-day moving average price of $202.75 and a two-hundred day moving average price of $206.66.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. Equities research analysts forecast that Atlassian Co. will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Atlassian

A number of institutional investors have recently added to or reduced their stakes in TEAM. OFI Invest Asset Management acquired a new stake in Atlassian during the 3rd quarter valued at approximately $26,000. Harbour Investments Inc. grew its stake in Atlassian by 148.8% in the fourth quarter. Harbour Investments Inc. now owns 199 shares of the technology company’s stock valued at $47,000 after acquiring an additional 119 shares during the period. Tyler Stone Wealth Management bought a new stake in Atlassian during the 2nd quarter valued at $34,000. Meeder Asset Management Inc. boosted its stake in Atlassian by 151.5% during the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after purchasing an additional 147 shares during the last quarter. Finally, Carmel Capital Partners LLC grew its holdings in Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on TEAM. KeyCorp assumed coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating for the company. UBS Group decreased their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. William Blair reissued an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Citigroup lowered their target price on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, April 12th. Finally, Wells Fargo & Company lifted their price target on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.