Michael Cannon-Brookes Sells 7,665 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $160.70, for a total transaction of $1,231,765.50. Following the sale, the chief executive officer directly owned 114,975 shares in the company, valued at $18,476,482.50. This trade represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, December 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.48, for a total value of $1,230,079.20.
• On Wednesday, December 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total value of $1,188,688.20.
• On Friday, November 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $150.12, for a total value of $1,150,669.80.
• On Wednesday, November 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $148.29, for a total value of $1,136,642.85.
• On Monday, November 24th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $146.62, for a total transaction of $1,123,842.30.
• On Friday, November 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $144.02, for a total transaction of $1,103,913.30.
• On Wednesday, November 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.63, for a total value of $1,131,583.95.
• On Monday, November 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.41, for a total value of $1,129,897.65.
• On Thursday, November 13th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $153.77, for a total transaction of $1,178,647.05.
• On Monday, November 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.00, for a total transaction of $1,211,070.00.

Atlassian Stock Performance

Shares of TEAM stock opened at $161.73 on Thursday. Atlassian Corporation PLC has a 12-month low of $139.70 and a 12-month high of $326.00. The company has a market capitalization of $42.55 billion, a P/E ratio of -227.79, a P/E/G ratio of 30.44 and a beta of 0.89. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $155.39 and its two-hundred day moving average is $176.17.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The firm’s revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. Analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TEAM. Guggenheim started coverage on shares of Atlassian in a research note on Thursday, September 11th. They set a “buy” rating and a $225.00 target price on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $230.00 price objective on shares of Atlassian in a research report on Wednesday, October 22nd. Cowen reiterated a “hold” rating on shares of Atlassian in a research report on Monday, October 27th. Truist Financial set a $210.00 price objective on Atlassian in a report on Friday, October 31st. Finally, Wells Fargo & Company began coverage on shares of Atlassian in a report on Tuesday, September 30th. They set an “overweight” rating and a $216.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $240.00.

Hedge Funds Weigh In On Atlassian

Several large investors have recently bought and sold shares of the business. Capco Asset Management LLC purchased a new stake in Atlassian during the 2nd quarter worth about $25,000. Physician Wealth Advisors Inc. raised its position in shares of Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after acquiring an additional 61 shares in the last quarter. Atlantic Union Bankshares Corp raised its position in shares of Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after acquiring an additional 199 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Atlassian in the third quarter valued at approximately $57,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.