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 Atlassian stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $162.53, for a total transaction of $1,245,792.45. Following the transaction, the chief executive officer directly owned 22,995 shares in the company, valued at approximately $3,737,377.35. This represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, December 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.66, for a total value of $1,254,453.90.
• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.40, for a total value of $1,244,796.00.
• On Tuesday, December 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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 shares were 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 transaction 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 transaction 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 transaction of $1,231,765.50.
• On Friday, December 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total transaction 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 Trading Down 0.6%

Shares of TEAM stock opened at $162.93 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm has a market cap of $42.87 billion, a P/E ratio of -229.48, a PEG ratio of 25.40 and a beta of 0.89. The company has a 50 day moving average of $158.21 and a 200-day moving average of $171.38. Atlassian Corporation PLC has a 12-month low of $139.70 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the company earned $0.77 earnings per share. Atlassian’s revenue was up 20.6% compared to the same quarter last year. Sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Allworth Financial LP raised its position in shares of Atlassian by 21.6% in the third quarter. Allworth Financial LP now owns 3,161 shares of the technology company’s stock worth $505,000 after buying an additional 561 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Atlassian by 624.6% during the 3rd quarter. IFP Advisors Inc now owns 5,174 shares of the technology company’s stock valued at $826,000 after acquiring an additional 4,460 shares during the last quarter. Swiss Life Asset Management Ltd grew its holdings in shares of Atlassian by 14.7% during the third quarter. Swiss Life Asset Management Ltd now owns 27,397 shares of the technology company’s stock worth $4,375,000 after purchasing an additional 3,505 shares in the last quarter. Cambria Investment Management L.P. bought a new position in shares of Atlassian in the third quarter worth approximately $671,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in Atlassian in the third quarter valued at approximately $1,925,000. Institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TEAM shares. Macquarie dropped their price objective on shares of Atlassian from $250.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Zacks Research raised shares of Atlassian from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. BTIG Research started coverage on shares of Atlassian in a report on Tuesday, December 16th. They set a “buy” rating and a $220.00 target price on the stock. Mizuho raised their price target on Atlassian from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, TD Cowen reduced their price target on Atlassian from $220.00 to $205.00 and set a “hold” rating for the company in a research report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $239.23.

Atlassian Company Profile

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.