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 Atlassian stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $192.21, for a total transaction of $1,584,002.61. Following the sale, the chief executive officer now owns 24,723 shares in the company, valued at approximately $4,752,007.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 shares were 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 stock was 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 stock was 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 stock was 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 Performance

Shares of TEAM opened at $193.14 on Thursday. Atlassian Co. has a 1 year low of $128.02 and a 1 year high of $258.69. The company has a market cap of $50.10 billion, a price-to-earnings ratio of -129.62 and a beta of 0.64. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a fifty day moving average of $214.94 and a 200-day moving average of $207.04.

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

Institutional Investors Weigh In On Atlassian

Several institutional investors have recently bought and sold shares of TEAM. BlackRock Inc. lifted its holdings in Atlassian by 26.0% in the first quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock worth $1,294,640,000 after purchasing an additional 1,561,804 shares during the period. Baillie Gifford & Co. lifted its holdings in Atlassian by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after purchasing an additional 1,511,318 shares during the period. Durable Capital Partners LP acquired a new stake in Atlassian in the first quarter worth about $434,144,000. Morgan Stanley lifted its holdings in Atlassian by 156.8% in the third quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after purchasing an additional 1,095,297 shares during the period. Finally, Norges Bank bought a new stake in Atlassian in the fourth quarter worth about $138,509,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TEAM. Capital One Financial began coverage on shares of Atlassian in a report on Monday, December 18th. They issued an “equal weight” rating and a $238.00 price objective for the company. Scotiabank began coverage on shares of Atlassian in a report on Friday, December 1st. They issued a “sector perform” rating and a $185.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Barclays lifted their price objective on shares of Atlassian from $165.00 to $250.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Finally, Citigroup lifted their price objective on shares of Atlassian from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Atlassian has a consensus rating of “Hold” and a consensus price target of $225.19.

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.