Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,080,230.04 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $261.73, for a total value of $2,080,230.04. Following the sale, the chief executive officer now directly owns 174,856 shares of the company’s stock, valued at $45,765,060.88. This represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $239.19, for a total transaction of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $224.33, for a total value of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.72, for a total value of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.56, for a total value of $1,530,466.88.
• On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.64, for a total transaction of $1,499,310.72.
• On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.75, for a total transaction of $1,508,133.00.
• On Wednesday, October 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.56, for a total value of $1,498,674.88.
• On Monday, October 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.18, for a total value of $1,527,446.64.
• On Friday, October 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.16, for a total value of $1,527,287.68.
• On Monday, October 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $193.70, for a total transaction of $1,539,527.60.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $262.46 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $269.40. The company’s 50 day moving average price is $202.56 and its two-hundred day moving average price is $178.71. The firm has a market cap of $68.35 billion, a PE ratio of -172.67 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) EPS. Equities research analysts predict that Atlassian Co. will post -0.54 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently bought and sold shares of the company. Baillie Gifford & Co. raised its position in shares of Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after buying an additional 78,454 shares in the last quarter. State Street Corp raised its position in Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after purchasing an additional 8,957 shares in the last quarter. Dragoneer Investment Group LLC bought a new stake in Atlassian during the second quarter worth $469,803,000. FMR LLC boosted its holdings in shares of Atlassian by 7.4% in the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after purchasing an additional 150,237 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Atlassian by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after purchasing an additional 57,911 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TEAM. Jefferies Financial Group lifted their price target on shares of Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Truist Financial upped their target price on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Piper Sandler raised their price target on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Canaccord Genuity Group increased their price objective on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $244.21.

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.