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 stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $172.99, for a total transaction of $1,425,610.59. Following the transaction, the chief executive officer now owns 325,245 shares of the company’s stock, valued at approximately $56,264,132.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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.
• 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 transaction 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 stock was sold at an average price of $201.81, for a total transaction of $1,663,116.21.
• On Monday, April 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.71, for a total transaction of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was 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 shares were sold at an average price of $195.98, for a total transaction of $1,615,071.18.
• On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $193.55, for a total transaction of $1,595,045.55.
• On Monday, March 25th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $192.21, for a total transaction of $1,584,002.61.

Atlassian Stock Performance

Atlassian stock traded up $10.78 during mid-day trading on Thursday, reaching $183.55. 3,233,250 shares of the company traded hands, compared to its average volume of 1,775,085. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.07. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The company has a market capitalization of $47.61 billion, a price-to-earnings ratio of -291.35 and a beta of 0.67. The firm’s fifty day moving average is $198.09 and its two-hundred day moving average is $206.17.

Atlassian (NASDAQ:TEAM) last announced its quarterly 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 analysts’ expectations of $1.10 billion. During the same period last year, the business earned ($0.40) earnings per share. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. On average, equities research analysts expect that Atlassian Co. will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlassian

A number of institutional investors have recently made changes to their positions in the stock. Kingswood Wealth Advisors LLC purchased a new position in shares of Atlassian in the third quarter valued at approximately $535,000. Robeco Institutional Asset Management B.V. lifted its stake in Atlassian by 2.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 45,010 shares of the technology company’s stock worth $9,070,000 after acquiring an additional 1,168 shares during the last quarter. Xponance Inc. raised its holdings in Atlassian by 0.8% during the third quarter. Xponance Inc. now owns 20,586 shares of the technology company’s stock worth $4,148,000 after purchasing an additional 172 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in Atlassian by 8.0% during the third quarter. Stratos Wealth Partners LTD. now owns 7,550 shares of the technology company’s stock worth $1,521,000 after purchasing an additional 561 shares in the last quarter. Finally, Independent Advisor Alliance raised its holdings in Atlassian by 4.0% during the third quarter. Independent Advisor Alliance now owns 2,691 shares of the technology company’s stock worth $542,000 after purchasing an additional 104 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial decreased their price objective on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a report on Friday, April 26th. Oppenheimer decreased their price objective on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Robert W. Baird lowered their price target on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Finally, Wells Fargo & Company upped their price target on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.22.

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.