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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $216.90, for a total value of $1,723,921.20. Following the completion of the sale, the chief executive officer now owns 71,532 shares of the company’s stock, valued at approximately $15,515,290.80. This trade represents a 10.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, March 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $227.55, for a total transaction of $1,808,567.40.
• On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $259.69, for a total transaction of $2,064,016.12.
• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $297.51, for a total transaction of $2,364,609.48.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $313.95, for a total value of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.90, for a total value of $2,478,981.20.
• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $315.74, for a total value of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $322.31, for a total transaction of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $318.91, for a total transaction of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.20, for a total value of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.01, for a total transaction of $2,138,091.48.

Atlassian Stock Performance

NASDAQ:TEAM traded up $10.41 during mid-day trading on Wednesday, hitting $229.86. 3,164,268 shares of the company traded hands, compared to its average volume of 1,943,066. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock’s fifty day moving average price is $272.20 and its 200-day moving average price is $235.46. The firm has a market cap of $60.22 billion, a price-to-earnings ratio of -171.54 and a beta of 0.91. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Research analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Several institutional investors have recently bought and sold shares of TEAM. Murphy & Mullick Capital Management Corp purchased a new position in Atlassian during the fourth quarter valued at $27,000. Colonial Trust Co SC grew its position in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after purchasing an additional 69 shares in the last quarter. True Wealth Design LLC grew its position in shares of Atlassian by 23,100.0% during the third 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 in the last quarter. Summit Securities Group LLC purchased a new position in shares of Atlassian during the fourth quarter valued at about $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian during the 4th quarter valued at approximately $39,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TEAM. The Goldman Sachs Group upped their price target on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Piper Sandler upped their target price on shares of Atlassian from $310.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley upped their price objective on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup upped their price objective on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, Truist Financial reaffirmed a “buy” rating and set a $350.00 price target (up from $300.00) on shares of Atlassian in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $316.77.

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.