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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $264.32, for a total transaction of $2,100,815.36. Following the sale, the chief executive officer now directly owns 166,908 shares in the company, valued at $44,117,122.56. The trade was a 4.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $261.73, for a total value of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $239.19, for a total value of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total value of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.72, for a total value of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.56, for a total transaction of $1,530,466.88.
• On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.64, for a total transaction of $1,499,310.72.
• On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $189.75, for a total transaction of $1,508,133.00.
• On Wednesday, October 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.56, for a total value of $1,498,674.88.
• On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.18, for a total value of $1,527,446.64.
• On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.16, for a total value of $1,527,287.68.

Atlassian Stock Up 0.9 %

TEAM opened at $268.36 on Wednesday. The stock has a market cap of $69.89 billion, a price-to-earnings ratio of -176.55 and a beta of 0.80. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The firm’s fifty day moving average is $210.75 and its 200 day moving average is $181.01. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $269.40.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned ($0.07) earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. On average, sell-side analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlassian

A number of institutional investors have recently added to or reduced their stakes in the stock. Asset Dedication LLC lifted its holdings in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after buying an additional 108 shares in the last quarter. Trust Co. of Vermont increased its holdings in Atlassian by 2,175.0% in the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares during the last quarter. Rothschild Investment LLC purchased a new stake in Atlassian in the 2nd quarter worth $36,000. True Wealth Design LLC boosted its holdings in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after purchasing an additional 96 shares in the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TEAM shares. Raymond James boosted their target price on Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group boosted their price objective on shares of Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group increased their price objective on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their target price on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Oppenheimer increased their price target on Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.21.

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.