Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 8,241 Shares

Posted by Lisa Pomrenke on May 10th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $178.93, for a total value of $1,474,562.13. Following the sale, the chief executive officer now owns 284,040 shares of the company’s stock, valued at approximately $50,823,277.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

On Monday, May 6th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $182.45, for a total transaction of $1,503,570.45.
On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $172.99, for a total transaction of $1,425,610.59.
On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.95, for a total value of $1,474,726.95.
On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $191.53, for a total transaction of $1,578,398.73.
On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $197.46, for a total transaction of $1,627,267.86.
On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was 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 transaction 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 transaction of $1,615,071.18.

Atlassian Stock Performance

Shares of TEAM stock opened at $179.85 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 52 week low of $132.32 and a 52 week high of $258.69. The firm has a 50 day moving average of $195.22 and a 200-day moving average of $205.60. The company has a market cap of $46.81 billion, a price-to-earnings ratio of -285.48 and a beta of 0.67.

Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.40) earnings per share. On average, equities analysts forecast that Atlassian Co. will post -0.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TEAM. Oppenheimer decreased their target price on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. UBS Group dropped their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. Wells Fargo & Company raised their target price on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Citigroup reduced their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. Finally, The Goldman Sachs Group boosted their price target on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.22.

Read Our Latest Analysis on TEAM

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. M&G Plc bought a new stake in shares of Atlassian during the first quarter worth about $6,676,000. Element Capital Management LLC acquired a new position in Atlassian during the 1st quarter valued at about $851,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Atlassian by 25.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 96,296 shares of the technology company’s stock worth $18,788,000 after purchasing an additional 19,299 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Atlassian by 2.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $34,213,000 after purchasing an additional 3,687 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. bought a new position in shares of Atlassian in the first quarter valued at approximately $40,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Atlassian Company Profile

(Get Free Report)

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.