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

Posted by Chris Copeland on Oct 2nd, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $161.30, for a total transaction of $1,282,012.40. Following the sale, the chief executive officer now owns 7,948 shares of the company’s stock, valued at $1,282,012.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.98, for a total transaction of $1,287,417.04.
On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $162.27, for a total transaction of $1,289,721.96.
On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.56, for a total value of $1,299,974.88.
On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $165.03, for a total value of $1,311,658.44.
On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.97, for a total value of $1,279,389.56.
On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $166.36, for a total value of $1,322,229.28.
On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $156.92, for a total transaction of $1,247,200.16.
On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $151.62, for a total transaction of $1,205,075.76.
On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $141.23, for a total transaction of $1,122,496.04.
On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $144.73, for a total value of $1,150,314.04.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $161.42 on Wednesday. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69. The stock has a market cap of $41.97 billion, a PE ratio of -252.08 and a beta of 0.73. The business’s fifty day moving average price is $159.98 and its two-hundred day moving average price is $173.22. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) EPS. On average, analysts forecast that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TEAM shares. Mizuho decreased their target price on Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Wells Fargo & Company decreased their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Capital One Financial raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 target price on the stock in a report on Thursday, July 11th. Truist Financial decreased their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Finally, Raymond James upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research note on Tuesday. Ten equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $216.65.

View Our Latest Analysis on Atlassian

Hedge Funds Weigh In On Atlassian

A number of institutional investors have recently modified their holdings of TEAM. Dragoneer Investment Group LLC acquired a new stake in Atlassian during the second quarter worth approximately $469,803,000. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 shares of Atlassian during the 2nd quarter worth $91,072,000. Vanguard Group Inc. boosted its holdings in shares of Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after purchasing an additional 504,181 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Atlassian in the first quarter valued at $55,307,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

About Atlassian

(Get Free Report)

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.