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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $182.45, for a total transaction of $1,503,570.45. Following the completion of the sale, the chief executive officer now directly owns 300,522 shares of the company’s stock, valued at $54,830,238.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $172.99, for a total transaction of $1,425,610.59.
• On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.95, for a total value of $1,474,726.95.
• On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $191.53, for a total transaction of $1,578,398.73.
• On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.26, for a total transaction of $1,617,378.66.
• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were 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 transaction of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.25, for a total transaction of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $193.55, for a total value of $1,595,045.55.

Atlassian Stock Up 1.3 %

NASDAQ TEAM traded up $2.35 during trading hours on Tuesday, reaching $184.12. 1,337,096 shares of the company’s stock were exchanged, compared to its average volume of 1,763,811. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $47.93 billion, a price-to-earnings ratio of -292.71 and a beta of 0.67. The company’s 50-day moving average is $196.77 and its two-hundred day moving average is $205.99. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period last year, the business posted ($0.40) earnings per share. On average, analysts forecast that Atlassian Co. will post -0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TEAM shares. Citigroup decreased their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Wells Fargo & Company increased their price target on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Piper Sandler cut their price target on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. KeyCorp initiated coverage on Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Finally, StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $223.22.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TEAM. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Atlassian by 12.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock valued at $14,763,000 after purchasing an additional 8,073 shares during the last quarter. Arkadios Wealth Advisors bought a new position in shares of Atlassian in the 4th quarter valued at about $202,000. American Century Companies Inc. grew its stake in shares of Atlassian by 58.7% in the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after buying an additional 159,102 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Atlassian in the fourth quarter valued at $13,805,000. Finally, Royal Bank of Canada grew its position in shares of Atlassian by 17.3% in the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after acquiring an additional 56,149 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Atlassian Company Profile

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.