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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $205.60, for a total value of $1,694,349.60. Following the completion of the sale, the chief executive officer now directly owns 74,169 shares in the company, valued at approximately $15,249,146.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Friday, September 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $202.57, for a total value of $1,669,379.37.
• On Thursday, September 7th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $206.27, for a total value of $1,699,871.07.
• On Wednesday, August 30th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $201.37, for a total value of $1,659,490.17.
• On Monday, August 28th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $191.71, for a total value of $1,579,882.11.
• On Monday, August 21st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $184.37, for a total value of $1,519,393.17.
• On Friday, August 11th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.91, for a total value of $1,630,976.31.
• On Wednesday, August 9th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $193.60, for a total value of $1,595,457.60.
• On Monday, August 7th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $191.32, for a total value of $1,576,668.12.
• On Friday, August 4th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $200.01, for a total value of $1,648,282.41.
• On Wednesday, August 2nd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $171.05, for a total value of $1,409,623.05.

Atlassian Price Performance

Shares of Atlassian stock traded up $0.48 during trading on Tuesday, hitting $205.36. 660,992 shares of the company’s stock traded hands, compared to its average volume of 1,990,637. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.35 and a quick ratio of 1.35. The firm’s fifty day moving average price is $190.80 and its 200 day moving average price is $171.64. Atlassian Co. has a twelve month low of $113.86 and a twelve month high of $246.15. The company has a market cap of $52.86 billion, a PE ratio of -105.88 and a beta of 0.70.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 3rd. The technology company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.04. Atlassian had a negative net margin of 13.77% and a negative return on equity of 61.15%. The company had revenue of $939.10 million for the quarter, compared to analyst estimates of $911.23 million. Analysts forecast that Atlassian Co. will post -0.48 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

Several large investors have recently bought and sold shares of the company. Financial Counselors Inc. grew its position in shares of Atlassian by 4.8% in the 1st quarter. Financial Counselors Inc. now owns 12,830 shares of the technology company’s stock valued at $2,196,000 after acquiring an additional 583 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of Atlassian in the 1st quarter valued at approximately $157,000. OLD National Bancorp IN grew its holdings in shares of Atlassian by 21.4% during the 1st quarter. OLD National Bancorp IN now owns 2,163 shares of the technology company’s stock valued at $370,000 after purchasing an additional 381 shares during the last quarter. Soma Equity Partners LP bought a new stake in shares of Atlassian during the 4th quarter valued at approximately $51,472,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in Atlassian by 4.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $30,015,000 after acquiring an additional 7,200 shares during the last quarter. Institutional investors own 53.36% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Atlassian from $200.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Oppenheimer increased their price target on Atlassian from $200.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Berenberg Bank initiated coverage on Atlassian in a report on Thursday, June 29th. They issued a “hold” rating and a $150.00 price target for the company. Piper Sandler increased their price target on Atlassian from $170.00 to $200.00 in a report on Friday, August 4th. Finally, Truist Financial increased their price target on Atlassian from $150.00 to $200.00 and gave the company a “hold” rating in a report on Friday, August 4th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.81.

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.