Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,503,570.45 in Stock

Posted by Michael Baxter 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 Monday, May 6th. The stock was sold at an average price of $182.45, for a total transaction of $1,503,570.45. Following the completion of the sale, the chief executive officer now owns 300,522 shares of the company’s stock, valued at $54,830,238.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

On Wednesday, May 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $178.93, for a total transaction of $1,474,562.13.
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 value 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 value 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 transaction 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 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 transaction 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 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 shares were sold at an average price of $195.98, for a total value of $1,615,071.18.

Atlassian Stock Up 0.7 %

Shares of NASDAQ TEAM 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. 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 Co. has a 12-month low of $132.32 and a 12-month high of $258.69. The firm’s 50-day simple moving average is $195.22 and its 200 day simple moving average is $205.60.

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

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new position in Atlassian during the third quarter valued at approximately $26,000. Hollencrest Capital Management grew its holdings in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares during the period. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Atlassian in the 1st quarter valued at $40,000. Carmel Capital Partners LLC raised its stake in 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 buying an additional 57 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after acquiring an additional 271 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of research reports. StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. TD Cowen reduced their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a report on Friday, April 26th. Citigroup lowered their target price on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Canaccord Genuity Group cut their price target on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Finally, Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $235.00 to $275.00 in a research note on Thursday, April 11th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $223.22.

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About Atlassian

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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.