Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,030,316.60 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $255.45, for a total transaction of $2,030,316.60. Following the completion of the transaction, the chief executive officer now directly owns 23,844 shares in the company, valued at $6,090,949.80. This trade represents a 25.00 % decrease in their ownership of the stock. The transaction 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 Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.25, for a total transaction of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.22, for a total value of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.13, for a total value of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.20, for a total transaction of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.79, for a total transaction of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.32, for a total transaction of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $261.73, for a total value of $2,080,230.04.
• 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 value of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was 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 shares were sold at an average price of $222.72, for a total value of $1,770,178.56.

Atlassian Stock Down 1.2 %

TEAM stock traded down $3.01 during trading on Monday, reaching $247.10. The stock had a trading volume of 798,648 shares, compared to its average volume of 1,867,403. The firm has a fifty day moving average price of $243.87 and a 200 day moving average price of $193.75. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $64.35 billion, a P/E ratio of -162.56 and a beta of 0.80. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $287.97.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. raised its position in shares of Atlassian by 0.9% during 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 acquiring an additional 78,454 shares in the last quarter. State Street Corp boosted its stake in Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after acquiring an additional 8,957 shares during the period. Dragoneer Investment Group LLC acquired a new stake in shares of Atlassian during the 2nd quarter worth approximately $469,803,000. JPMorgan Chase & Co. lifted its holdings in shares of Atlassian by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after purchasing an additional 131,621 shares during the last quarter. Finally, FMR LLC grew its position in shares of Atlassian by 7.4% during the third quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock worth $346,679,000 after acquiring an additional 150,237 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TEAM. UBS Group raised their price objective on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley upped their price target on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Mizuho lifted their price objective on Atlassian from $240.00 to $285.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Piper Sandler upped their price target on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, KeyCorp boosted their price objective on shares of Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Ten analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $258.00.

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.