Michael Cannon-Brookes Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Posted by Lars Charter on Jun 17th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $159.43, for a total value of $1,267,149.64. Following the completion of the sale, the chief executive officer now directly owns 71,532 shares in the company, valued at approximately $11,404,346.76. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

On Wednesday, June 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.54, for a total transaction of $1,299,815.92.
On Tuesday, May 28th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $165.51, for a total value of $1,363,967.91.
On Tuesday, May 21st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.45, for a total value of $1,470,606.45.
On Tuesday, May 14th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $184.26, for a total value of $1,518,486.66.
On Friday, May 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $179.88, for a total value of $1,482,391.08.
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 value of $1,474,562.13.
On Monday, May 6th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $182.45, for a total value of $1,503,570.45.
On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was 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 transaction of $1,474,726.95.
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 transaction of $1,578,398.73.

Atlassian Stock Down 2.2 %

Shares of TEAM traded down $3.47 during mid-day trading on Monday, hitting $156.62. 1,535,933 shares of the company’s stock were exchanged, compared to its average volume of 1,751,406. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 52 week low of $154.02 and a 52 week high of $258.69. The company has a market cap of $40.77 billion, a PE ratio of -245.65 and a beta of 0.73. The company has a 50-day simple moving average of $179.40 and a 200 day simple moving average of $203.69.

Atlassian (NASDAQ:TEAM – Get Free Report) last released 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 net margin of 3.90% and a negative return on equity of 13.95%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned ($0.40) earnings per share. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, research analysts forecast that Atlassian Co. will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management grew its stake in shares of Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Atlassian in the 1st quarter valued at about $40,000. Crewe Advisors LLC acquired a new stake in Atlassian in the 1st quarter valued at about $43,000. Livforsakringsbolaget Skandia Omsesidigt increased its position 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 buying an additional 271 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Atlassian by 255.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after buying an additional 291 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on TEAM shares. Barclays raised shares of 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. Truist Financial lowered their price objective on Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Citigroup cut their target price on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Mizuho lowered their price target on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Finally, Piper Sandler lowered their price target on Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.22.

Check Out Our Latest Stock Analysis on TEAM

About Atlassian

(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.