Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 7,948 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $177.07, for a total transaction of $1,407,352.36. Following the sale, the chief executive officer now directly owns 333,816 shares in the company, valued at approximately $59,108,799.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.65, for a total value of $1,411,962.20.
• On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.47, for a total value of $1,346,947.56.
• On Monday, July 22nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $175.95, for a total transaction of $1,398,450.60.
• On Wednesday, July 17th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $180.42, for a total transaction of $1,433,978.16.
• On Monday, July 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $180.11, for a total transaction of $1,431,514.28.
• On Wednesday, July 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $173.13, for a total value of $1,376,037.24.
• On Monday, July 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $182.56, for a total value of $1,450,986.88.
• On Wednesday, June 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $170.45, for a total value of $1,354,736.60.
• On Monday, June 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.95, for a total transaction of $1,303,074.60.
• On Friday, June 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $159.43, for a total transaction of $1,267,149.64.

Atlassian Stock Performance

Shares of TEAM stock traded down $3.33 during mid-day trading on Thursday, hitting $173.24. 2,292,065 shares of the stock were exchanged, compared to its average volume of 1,700,196. The stock’s fifty day simple moving average is $170.12 and its two-hundred day simple moving average is $192.55. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 12-month low of $152.34 and a 12-month high of $258.69. The stock has a market capitalization of $45.09 billion, a price-to-earnings ratio of -283.89 and a beta of 0.74.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its stake in Atlassian by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after buying an additional 1,511,318 shares during the last quarter. Norges Bank purchased a new stake in Atlassian in the 4th quarter valued at $247,740,000. Price T Rowe Associates Inc. MD boosted its stake in Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares during the period. Manning & Napier Advisors LLC purchased a new position in Atlassian during the 2nd quarter worth $91,072,000. Finally, Vanguard Group Inc. raised its holdings in shares of Atlassian by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after buying an additional 504,181 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TEAM shares. Truist Financial reduced their target price on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Mizuho decreased their target price on Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. TD Cowen cut their price target on Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Piper Sandler upgraded Atlassian from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $200.00 to $225.00 in a research note on Tuesday, July 2nd. Finally, Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $228.81.

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.