Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 8,241 Shares

Posted by Shane Hupp on May 2nd, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $178.95, for a total value of $1,474,726.95. Following the transaction, the chief executive officer now owns 349,968 shares in the company, valued at $62,626,773.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $191.53, for a total value of $1,578,398.73.
On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.26, for a total value 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 value 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 value 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 value 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 value of $1,617,296.25.
On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $195.98, for a total value of $1,615,071.18.
On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $193.55, for a total value 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 value of $1,584,002.61.
On Wednesday, March 20th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $195.12, for a total value of $1,607,983.92.

Atlassian Trading Up 0.3 %

TEAM opened at $172.77 on Thursday. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The stock has a market capitalization of $44.82 billion, a PE ratio of -274.24 and a beta of 0.63. The business’s 50 day moving average price is $198.09 and its 200 day moving average price is $206.17. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.07 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the firm posted ($0.40) earnings per share. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. As a group, equities research analysts expect that Atlassian Co. will post -0.42 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in Atlassian during the third quarter worth $26,000. Hollencrest Capital Management lifted its stake in Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after purchasing an additional 119 shares in the last quarter. Carmel Capital Partners LLC lifted its stake in Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after purchasing an additional 271 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Atlassian by 255.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after purchasing an additional 291 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TEAM. KeyCorp began coverage on Atlassian in a report on Tuesday, March 19th. They issued a “sector weight” rating for the company. Citigroup decreased their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a report on Friday, April 12th. William Blair restated an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. The Goldman Sachs Group lifted their price target on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Finally, Canaccord Genuity Group cut their price target on Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $223.22.

Get Our Latest Analysis on Atlassian

About Atlassian

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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.