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 that occurred on Monday, April 15th. The shares were sold at an average price of $197.46, for a total value of $1,627,267.86. Following the completion of the transaction, the chief executive officer now directly owns 424,137 shares of the company’s stock, valued at $83,750,092.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value of $1,617,378.66.
• 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 value 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 value of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were 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.
• On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $193.55, for a total value of $1,595,045.55.
• On Monday, March 25th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $192.21, for a total value of $1,584,002.61.
• On Wednesday, March 20th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $195.12, for a total value of $1,607,983.92.
• On Friday, March 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.83, for a total value of $1,630,317.03.
• On Wednesday, March 13th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $210.65, for a total value of $1,735,966.65.

Atlassian Stock Performance

Shares of Atlassian stock opened at $193.61 on Friday. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The business’s fifty day simple moving average is $202.37 and its 200-day simple moving average is $206.57. The firm has a market cap of $50.22 billion, a PE ratio of -129.94 and a beta of 0.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Equities analysts forecast that Atlassian Co. will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Several large investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in Atlassian by 26.0% during the 1st quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock worth $1,294,640,000 after acquiring an additional 1,561,804 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after acquiring an additional 1,511,318 shares in the last quarter. Durable Capital Partners LP acquired a new position in Atlassian during the 1st quarter worth about $434,144,000. Morgan Stanley lifted its stake in Atlassian by 156.8% during the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after acquiring an additional 1,095,297 shares in the last quarter. Finally, Norges Bank acquired a new position in Atlassian during the 4th quarter worth about $138,509,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on TEAM shares. UBS Group dropped their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Truist Financial boosted their price target on Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research report on Tuesday, January 16th. KeyCorp assumed coverage on Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating for the company. Finally, Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $224.25.

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.