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

Posted by Ethan Ryder on May 10th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $178.93, for a total value of $1,474,562.13. Following the completion of the transaction, the chief executive officer now owns 284,040 shares of the company’s stock, valued at $50,823,277.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

On Monday, May 6th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $182.45, for a total transaction of $1,503,570.45.
On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $172.99, for a total value of $1,425,610.59.
On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was 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 stock was 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 shares were sold at an average price of $201.81, for a total transaction of $1,663,116.21.
On Monday, April 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were 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 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 shares were sold at an average price of $195.98, for a total value of $1,615,071.18.

Atlassian Stock Up 0.7 %

NASDAQ:TEAM opened at $179.85 on Friday. 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 stock has a market capitalization of $46.81 billion, a P/E ratio of -285.48 and a beta of 0.67. The company’s 50-day simple moving average is $195.22 and its 200-day simple moving average is $205.60. Atlassian Co. has a fifty-two week low of $132.32 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the firm earned ($0.40) EPS. The business’s quarterly revenue was up 29.9% on a year-over-year basis. On average, equities analysts anticipate that Atlassian Co. will post -0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TEAM shares. William Blair reiterated an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Wells Fargo & Company increased their price target on Atlassian from $275.00 to $285.00 and gave the company 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 on the stock in a report on Friday, April 26th. StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Finally, Mizuho dropped their target price on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $223.22.

Read Our Latest Stock Report on TEAM

Institutional Trading of Atlassian

A number of institutional investors have recently bought and sold shares of the stock. OFI Invest Asset Management acquired a new stake in shares of Atlassian during the third quarter worth $26,000. Hollencrest Capital Management raised its stake in shares of Atlassian by 383.9% in 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 during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Atlassian during the first quarter worth about $40,000. Carmel Capital Partners LLC raised its position in Atlassian by 28.5% during the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after acquiring an additional 271 shares during the period. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Company Profile

(Get Free Report)

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.