Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,474,726.95 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $178.95, for a total value of $1,474,726.95. Following the transaction, the chief executive officer now directly owns 349,968 shares in the company, valued at $62,626,773.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $191.53, for a total value of $1,578,398.73.
• On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.26, for a total value of $1,617,378.66.
• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.46, for a total value of $1,627,267.86.
• On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $201.81, for a total value of $1,663,116.21.
• On Monday, April 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.71, for a total value of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.25, for a total value of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $195.98, for a total value of $1,615,071.18.
• On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $193.55, for a total value of $1,595,045.55.
• On Monday, March 25th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $192.21, for a total value of $1,584,002.61.
• 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 value of $1,607,983.92.

Atlassian Stock Up 0.3 %

TEAM stock opened at $172.77 on Thursday. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The business’s 50-day moving average is $198.09 and its two-hundred day moving average is $206.17. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.07 and a current ratio of 1.18. The company has a market cap of $44.82 billion, a price-to-earnings ratio of -274.24 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company earned ($0.40) earnings per share. Atlassian’s revenue was up 29.9% on a year-over-year basis. As a group, analysts forecast that Atlassian Co. will post -0.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. William Blair reissued an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Truist Financial dropped their target price on Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Oppenheimer dropped their target price on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Finally, StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a report on Monday. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $223.22.

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hollencrest Capital Management increased its position in Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after buying an additional 119 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Atlassian by 6.5% in the first quarter. Janney Montgomery Scott LLC now owns 26,168 shares of the technology company’s stock worth $5,106,000 after buying an additional 1,593 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Atlassian by 7.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock worth $27,723,000 after buying an additional 10,434 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Atlassian by 12.9% in the first quarter. Sequoia Financial Advisors LLC now owns 1,540 shares of the technology company’s stock worth $300,000 after buying an additional 176 shares in the last quarter. Finally, Norden Group LLC purchased a new stake in Atlassian in the first quarter worth about $1,197,000. Hedge funds and other institutional investors own 93.03% 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.