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

Posted by Tristan Rich on Dec 15th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $278.20, for a total transaction of $2,211,133.60. Following the completion of the transaction, the chief executive officer now directly owns 95,376 shares of the company’s stock, valued at approximately $26,533,603.20. This trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.79, for a total value of $2,215,822.92.
On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.32, for a total value of $2,100,815.36.
On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $261.73, for a total value of $2,080,230.04.
On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $239.19, for a total transaction of $1,901,082.12.
On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total transaction of $1,782,974.84.
On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.72, for a total transaction of $1,770,178.56.
On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $192.56, for a total value of $1,530,466.88.
On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.64, for a total value of $1,499,310.72.
On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $189.75, for a total value of $1,508,133.00.
On Wednesday, October 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.56, for a total transaction of $1,498,674.88.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $278.65 on Friday. The company has a market capitalization of $72.57 billion, a price-to-earnings ratio of -183.32 and a beta of 0.80. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $287.97. The business has a 50-day moving average of $229.09 and a 200-day moving average of $186.77.

Atlassian (NASDAQ:TEAM – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company earned ($0.07) earnings per share. Atlassian’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, equities analysts anticipate that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of institutional investors have recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas purchased a new stake in shares of Atlassian during the third quarter worth about $11,438,000. Tri Ri Asset Management Corp acquired a new stake in Atlassian during the 3rd quarter valued at approximately $2,584,000. Synovus Financial Corp increased its holdings in Atlassian by 26.4% during the 3rd quarter. Synovus Financial Corp now owns 19,962 shares of the technology company’s stock worth $3,170,000 after purchasing an additional 4,173 shares during the last quarter. Tidal Investments LLC raised its position in shares of Atlassian by 143.2% in the 3rd quarter. Tidal Investments LLC now owns 12,605 shares of the technology company’s stock valued at $2,002,000 after purchasing an additional 7,422 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in shares of Atlassian by 59.4% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,901 shares of the technology company’s stock valued at $461,000 after buying an additional 1,081 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Robert W. Baird lifted their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Scotiabank increased their price target on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Macquarie initiated coverage on Atlassian in a research report on Thursday. They issued a “neutral” rating and a $290.00 price objective for the company. Piper Sandler increased their target price on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Canaccord Genuity Group lifted their price target on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a report on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $256.50.

View Our Latest Report on TEAM

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.