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 firm’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $163.66, for a total transaction of $1,254,453.90. Following the transaction, the chief executive officer owned 15,330 shares of the company’s stock, valued at approximately $2,508,907.80. This trade represents a 33.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, December 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.53, for a total transaction of $1,245,792.45.
• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.40, for a total transaction of $1,244,796.00.
• On Tuesday, December 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total value of $1,236,364.50.
• On Wednesday, December 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.16, for a total value of $1,250,621.40.
• On Monday, December 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.92, for a total value of $1,218,121.80.
• On Friday, December 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.11, for a total value of $1,242,573.15.
• On Wednesday, December 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.79, for a total value of $1,240,120.35.
• On Monday, December 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.70, for a total value of $1,231,765.50.
• 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 transaction of $1,188,688.20.

Atlassian Stock Performance

Atlassian stock opened at $162.93 on Wednesday. Atlassian Corporation PLC has a fifty-two week low of $139.70 and a fifty-two week high of $326.00. The firm’s 50 day simple moving average is $158.21 and its 200-day simple moving average is $171.38. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market cap of $42.87 billion, a P/E ratio of -229.48, a price-to-earnings-growth ratio of 25.40 and a beta of 0.89.

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

Institutional Trading of Atlassian

Several large investors have recently made changes to their positions in the stock. Capco Asset Management LLC acquired a new position in Atlassian in the 2nd quarter valued at $25,000. Physician Wealth Advisors Inc. grew its holdings in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after buying an additional 61 shares during the last quarter. Atlantic Union Bankshares Corp increased its position in Atlassian by 19,900.0% during the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after acquiring an additional 199 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after buying an additional 161 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian in the third quarter valued at about $57,000. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TEAM. Sanford C. Bernstein lifted their price target on Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. UBS Group decreased their price objective on Atlassian from $215.00 to $185.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. The Goldman Sachs Group reiterated a “buy” rating and issued a $260.00 target price on shares of Atlassian in a report on Friday, October 31st. Cantor Fitzgerald restated an “overweight” rating and set a $240.00 price target on shares of Atlassian in a report on Friday, October 31st. Finally, BMO Capital Markets boosted their price objective on shares of Atlassian from $190.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $239.23.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.