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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $191.53, for a total value of $1,578,398.73. Following the completion of the transaction, the chief executive officer now owns 391,173 shares in the company, valued at $74,921,364.69. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• 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 shares were 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 shares were 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.
• On Friday, March 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.83, for a total value of $1,630,317.03.

Atlassian Trading Up 1.4 %

TEAM stock traded up $2.72 during trading on Monday, reaching $194.27. 1,689,130 shares of the stock traded hands, compared to its average volume of 1,704,024. The business’s 50 day moving average price is $201.83 and its 200-day moving average price is $206.76. Atlassian Co. has a 52-week low of $128.02 and a 52-week high of $258.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $50.40 billion, a PE ratio of -128.56 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last posted 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). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. As a group, sell-side analysts forecast that Atlassian Co. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. UBS Group cut their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Mizuho cut their price target on Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a report on Monday, April 15th. Finally, Citigroup cut their price target on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $224.25.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently modified their holdings of TEAM. OFI Invest Asset Management purchased a new stake in shares of Atlassian in the third quarter worth about $26,000. Carmel Capital Partners LLC raised its position in shares of Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after purchasing an additional 271 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Atlassian by 255.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after purchasing an additional 291 shares in the last quarter. Finally, Operose Advisors LLC bought a new stake in shares of Atlassian during the 3rd quarter worth $99,000. 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.