Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,708,184.16 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $214.92, for a total value of $1,708,184.16. Following the completion of the sale, the chief executive officer now owns 103,324 shares of the company’s stock, valued at approximately $22,206,394.08. This trade represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, May 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $221.41, for a total value of $1,759,766.68.
• On Wednesday, May 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $225.44, for a total transaction of $1,791,797.12.
• On Monday, May 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.47, for a total transaction of $1,768,191.56.
• On Thursday, May 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $209.19, for a total transaction of $1,662,642.12.
• On Wednesday, April 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $225.64, for a total transaction of $1,793,386.72.
• On Monday, April 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $229.59, for a total transaction of $1,824,781.32.
• On Wednesday, April 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $210.23, for a total value of $1,670,908.04.
• On Monday, April 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.50, for a total value of $1,529,990.00.
• On Wednesday, April 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $205.94, for a total value of $1,636,811.12.
• On Friday, April 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $195.91, for a total value of $1,557,092.68.

Atlassian Stock Down 0.4%

Atlassian stock opened at $208.37 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $54.70 billion, a PE ratio of -155.50 and a beta of 1.06. The business has a 50 day simple moving average of $213.08 and a 200-day simple moving average of $246.97. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.89 EPS. On average, analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the topic of several research reports. BMO Capital Markets cut their price target on shares of Atlassian from $295.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Canaccord Genuity Group dropped their price objective on shares of Atlassian from $300.00 to $255.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. Baird R W upgraded shares of Atlassian from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 14th. UBS Group decreased their target price on shares of Atlassian from $230.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Finally, Macquarie lowered their price target on shares of Atlassian from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $285.29.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Allworth Financial LP lifted its position in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares in the last quarter. Slow Capital Inc. raised its stake in Atlassian by 2.9% in the 4th quarter. Slow Capital Inc. now owns 33,879 shares of the technology company’s stock valued at $8,245,000 after purchasing an additional 959 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Atlassian by 3,951.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company’s stock valued at $36,432,000 after purchasing an additional 145,995 shares in the last quarter. SYM FINANCIAL Corp acquired a new stake in Atlassian during the 4th quarter worth $230,000. Finally, LPL Financial LLC boosted its stake in Atlassian by 93.4% during the 4th quarter. LPL Financial LLC now owns 51,534 shares of the technology company’s stock worth $12,542,000 after purchasing an additional 24,891 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

About Atlassian

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.