Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 7,948 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $311.20, for a total value of $2,473,417.60. Following the transaction, the chief executive officer now owns 309,972 shares of the company’s stock, valued at approximately $96,463,286.40. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.01, for a total value of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.33, for a total value of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $251.20, for a total value of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $236.89, for a total value of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $243.35, for a total value of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $254.95, for a total value of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $242.27, for a total value of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $246.97, for a total value of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.45, for a total value of $2,030,316.60.

Atlassian Stock Performance

TEAM opened at $316.73 on Wednesday. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $324.37. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The business’s fifty day simple moving average is $262.61 and its 200-day simple moving average is $210.38.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 18.00% and a negative net margin of 7.22%. As a group, sell-side analysts expect that Atlassian Co. will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in TEAM. Virtu Financial LLC bought a new stake in Atlassian during the third quarter valued at about $606,000. Sequoia Financial Advisors LLC boosted its position in Atlassian by 37.0% during the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares in the last quarter. Fulton Bank N.A. bought a new stake in Atlassian during the fourth quarter valued at about $447,000. Paloma Partners Management Co bought a new stake in Atlassian during the third quarter valued at about $1,588,000. Finally, Impax Asset Management Group plc boosted its position in Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after purchasing an additional 31,986 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TEAM. Oppenheimer upped their price objective on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and increased their price target for the company from $255.00 to $292.00 in a report on Friday, January 10th. Piper Sandler increased their price target on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Cantor Fitzgerald increased their price target on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Morgan Stanley increased their price target on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $318.43.

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.