Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,584,002.61 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $192.21, for a total transaction of $1,584,002.61. Following the transaction, the chief executive officer now owns 24,723 shares in the company, valued at approximately $4,752,007.83. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, March 20th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $195.12, for a total transaction of $1,607,983.92.
• On Friday, March 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.83, for a total transaction of $1,630,317.03.
• On Wednesday, March 13th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $210.65, for a total transaction of $1,735,966.65.
• On Thursday, March 7th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $200.73, for a total transaction of $1,654,215.93.
• On Tuesday, March 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.31, for a total transaction of $1,617,790.71.
• On Wednesday, February 28th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $206.42, for a total transaction of $1,701,107.22.
• On Thursday, February 22nd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $205.80, for a total transaction of $1,695,997.80.
• On Friday, February 16th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $209.72, for a total transaction of $1,728,302.52.
• On Wednesday, February 14th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $213.14, for a total transaction of $1,756,486.74.
• On Thursday, February 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $213.49, for a total transaction of $1,759,371.09.

Atlassian Stock Up 0.4 %

Atlassian stock traded up $0.73 during mid-day trading on Monday, hitting $193.27. The company had a trading volume of 2,222,365 shares, compared to its average volume of 1,775,189. The company has a market capitalization of $50.13 billion, a PE ratio of -129.71 and a beta of 0.64. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The stock’s 50 day moving average price is $216.79 and its two-hundred day moving average price is $207.24.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Mizuho upped their price objective on shares of Atlassian from $240.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Barclays boosted their target price on Atlassian from $165.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. KeyCorp assumed coverage on Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating for the company. Capital One Financial began coverage on Atlassian in a research note on Monday, December 18th. They set an “equal weight” rating and a $238.00 target price for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $225.19.

Institutional Trading of Atlassian

A number of hedge funds have recently bought and sold shares of TEAM. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Atlassian in the fourth quarter worth about $4,281,000. Hennessy Advisors Inc. purchased a new position in shares of Atlassian in the 4th quarter valued at $136,000. Vanguard Group Inc. boosted its position in shares of Atlassian by 3.4% in the 4th 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 in the last quarter. Twin Focus Capital Partners LLC acquired a new stake in shares of Atlassian in the 4th quarter worth $227,000. Finally, American International Group Inc. lifted its position in Atlassian by 3.1% during the 4th quarter. American International Group Inc. now owns 10,772 shares of the technology company’s stock worth $2,562,000 after acquiring an additional 328 shares during the period. Hedge funds and other institutional investors own 53.36% of the company’s stock.

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.