Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,996,537.60 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $251.20, for a total transaction of $1,996,537.60. Following the completion of the transaction, the chief executive officer now directly owns 405,348 shares of the company’s stock, valued at approximately $101,823,417.60. This represents a 1.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $236.89, for a total value of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $243.35, for a total value of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $254.95, for a total value of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $246.97, for a total transaction of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.45, for a total transaction of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.25, for a total transaction of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.22, for a total value of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.13, for a total value of $2,210,577.24.

Atlassian Trading Down 0.7 %

NASDAQ:TEAM opened at $252.36 on Friday. The company has a market cap of $65.72 billion, a PE ratio of -166.03 and a beta of 0.83. The business’s 50 day moving average is $256.36 and its two-hundred day moving average is $201.95. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business posted ($0.07) earnings per share. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, analysts predict that Atlassian Co. will post -0.55 EPS for the current year.

Institutional Investors Weigh In On Atlassian

A number of institutional investors have recently modified their holdings of the business. DekaBank Deutsche Girozentrale grew its holdings in shares of Atlassian by 42.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 37,788 shares of the technology company’s stock valued at $6,666,000 after purchasing an additional 11,176 shares during the last quarter. Federated Hermes Inc. acquired a new position in Atlassian during the 2nd quarter valued at approximately $444,000. J.W. Cole Advisors Inc. bought a new position in Atlassian during the 2nd quarter worth $281,000. Dimensional Fund Advisors LP increased its position in Atlassian by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock worth $26,597,000 after buying an additional 5,878 shares during the period. Finally, Edgestream Partners L.P. lifted its stake in Atlassian by 53.6% in the second quarter. Edgestream Partners L.P. now owns 22,317 shares of the technology company’s stock valued at $3,947,000 after buying an additional 7,787 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TEAM. Truist Financial raised Atlassian from a “hold” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a research note on Tuesday, January 7th. Cantor Fitzgerald initiated coverage on shares of Atlassian in a research report on Friday. They set a “neutral” rating and a $264.00 price target on the stock. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Oppenheimer lifted their target price on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group increased their price target on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.00.

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.