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 dated Wednesday, May 8th. The shares were sold at an average price of $178.93, for a total value of $1,474,562.13. Following the sale, the chief executive officer now owns 284,040 shares in the company, valued at approximately $50,823,277.20. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• 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 transaction 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 transaction 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 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 shares were sold at an average price of $196.26, for a total value of $1,617,378.66.
• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was 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 shares were sold at an average price of $201.81, for a total value 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 value of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.25, for a total transaction of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $195.98, for a total value of $1,615,071.18.

Atlassian Trading Up 0.7 %

TEAM stock traded up $1.33 during trading on Thursday, reaching $179.85. The company had a trading volume of 776,765 shares, compared to its average volume of 1,746,314. The business has a 50 day moving average of $195.77 and a 200 day moving average of $205.78. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market cap of $46.81 billion, a P/E ratio of -285.48 and a beta of 0.67. Atlassian Co. has a 52 week low of $132.32 and a 52 week high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company earned ($0.40) earnings per share. The business’s revenue was up 29.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Atlassian Co. will post -0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup lowered 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. Robert W. Baird cut their price objective on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Mizuho decreased their price objective on Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Wells Fargo & Company upped their target price on Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Finally, KeyCorp started coverage on shares of Atlassian in a report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $223.22.

Institutional Investors Weigh In On Atlassian

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Atlassian by 3.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock worth $2,435,095,000 after purchasing an additional 326,673 shares during the last quarter. WCM Investment Management LLC increased its position in Atlassian by 2.7% during the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after acquiring an additional 249,017 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in Atlassian by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after acquiring an additional 1,511,318 shares during the period. Finally, Artisan Partners Limited Partnership lifted its holdings in Atlassian by 1.1% in the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock valued at $1,218,765,000 after acquiring an additional 63,903 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Atlassian Company Profile

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.