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 dated Friday, November 3rd. The shares were sold at an average price of $174.79, for a total transaction of $1,440,444.39. Following the transaction, the chief executive officer now owns 313,158 shares in the company, valued at approximately $54,736,886.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, October 27th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $176.99, for a total transaction of $1,458,574.59.
• On Monday, October 23rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $186.12, for a total transaction of $1,533,814.92.
• On Friday, October 20th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $186.07, for a total transaction of $1,533,402.87.
• On Wednesday, October 18th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $194.10, for a total transaction of $1,599,578.10.
• On Monday, October 16th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.48, for a total transaction of $1,619,191.68.
• On Wednesday, October 11th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $201.40, for a total transaction of $1,659,737.40.
• On Monday, October 9th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $200.82, for a total transaction of $1,654,957.62.
• On Friday, October 6th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.31, for a total transaction of $1,626,031.71.
• On Wednesday, October 4th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $191.02, for a total transaction of $1,574,195.82.
• On Monday, October 2nd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.57, for a total transaction of $1,628,174.37.

Atlassian Stock Down 1.9 %

Shares of TEAM stock opened at $173.55 on Tuesday. Atlassian Co. has a 12 month low of $113.86 and a 12 month high of $215.77. The stock has a market cap of $44.67 billion, a P/E ratio of -88.55 and a beta of 0.64. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.47. The company has a 50 day simple moving average of $195.16 and a two-hundred day simple moving average of $178.78.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TEAM shares. UBS Group started coverage on shares of Atlassian in a research note on Monday, October 2nd. They issued a “neutral” rating and a $225.00 target price on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $185.00 target price on shares of Atlassian in a research note on Friday, August 4th. Citigroup upped their target price on shares of Atlassian from $195.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, August 29th. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Truist Financial lowered their price objective on shares of Atlassian from $200.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday. Eight analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.19.

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Carmel Capital Partners LLC increased its holdings in Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after buying an additional 57 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of Atlassian by 0.5% in the second quarter. Park Avenue Securities LLC now owns 14,544 shares of the technology company’s stock worth $2,441,000 after purchasing an additional 67 shares in the last quarter. Virtue Capital Management LLC increased its stake in shares of Atlassian by 2.1% in the second quarter. Virtue Capital Management LLC now owns 3,348 shares of the technology company’s stock worth $578,000 after purchasing an additional 70 shares in the last quarter. ICICI Prudential Asset Management Co Ltd increased its stake in shares of Atlassian by 7.4% in the second quarter. ICICI Prudential Asset Management Co Ltd now owns 1,032 shares of the technology company’s stock worth $173,000 after purchasing an additional 71 shares in the last quarter. Finally, MetLife Investment Management LLC increased its stake in shares of Atlassian by 0.9% in the second quarter. MetLife Investment Management LLC now owns 8,894 shares of the technology company’s stock worth $1,493,000 after purchasing an additional 75 shares in the last quarter. 53.36% of the stock is owned by hedge funds and other 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.