Michael Cannon-Brookes Sells 8,614 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM – Get Rating) CEO Michael Cannon-Brookes sold 8,614 shares of the firm’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $162.81, for a total value of $1,402,445.34. Following the completion of the transaction, the chief executive officer now owns 215,350 shares in the company, valued at approximately $35,061,133.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, February 27th, Michael Cannon-Brookes sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $165.55, for a total value of $1,426,047.70.
• On Tuesday, February 21st, Michael Cannon-Brookes sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $164.88, for a total value of $1,420,276.32.
• On Wednesday, February 15th, Michael Cannon-Brookes sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $184.75, for a total value of $1,591,436.50.
• On Monday, February 13th, Michael Cannon-Brookes sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $175.36, for a total value of $1,510,551.04.
• On Monday, February 6th, Michael Cannon-Brookes sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $173.23, for a total value of $1,492,203.22.
• On Friday, February 3rd, Michael Cannon-Brookes sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $168.08, for a total value of $1,447,841.12.
• On Friday, January 27th, Michael Cannon-Brookes sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $161.66, for a total value of $1,392,539.24.
• On Wednesday, January 25th, Michael Cannon-Brookes sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $148.18, for a total value of $1,276,422.52.
• On Monday, January 23rd, Michael Cannon-Brookes sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $154.06, for a total value of $1,327,072.84.
• On Thursday, January 12th, Michael Cannon-Brookes sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $144.00, for a total value of $1,240,416.00.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $164.33 on Wednesday. The firm has a market cap of $42.12 billion, a price-to-earnings ratio of -119.08 and a beta of 0.83. Atlassian Co. has a one year low of $113.86 and a one year high of $321.76. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.30. The stock’s fifty day moving average price is $153.00 and its two-hundred day moving average price is $179.66.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Macquarie downgraded shares of Atlassian from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $287.00 to $147.00 in a research note on Friday, November 4th. William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, November 4th. StockNews.com upgraded shares of Atlassian from a “sell” rating to a “hold” rating in a research report on Saturday. The Goldman Sachs Group dropped their price objective on shares of Atlassian from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Finally, Barclays assumed coverage on shares of Atlassian in a research note on Thursday, December 15th. They set an “equal weight” rating and a $155.00 price objective for the company. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $218.11.

Hedge Funds Weigh In On Atlassian

Several large investors have recently bought and sold shares of the company. Ronald Blue Trust Inc. acquired a new stake in Atlassian in the second quarter valued at approximately $36,000. Rosenberg Matthew Hamilton purchased a new position in Atlassian during the third quarter worth about $26,000. Quent Capital LLC lifted its stake in Atlassian by 28.4% during the second quarter. Quent Capital LLC now owns 217 shares of the technology company’s stock worth $41,000 after purchasing an additional 48 shares during the last quarter. Guinness Atkinson Asset Management Inc bought a new stake in shares of Atlassian in the 4th quarter valued at about $30,000. Finally, Meeder Asset Management Inc. raised its position in Atlassian by 151.5% during the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after purchasing an additional 147 shares during the last quarter. 45.50% of the stock is currently owned by institutional investors.

About Atlassian

(Get Rating)

Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.