Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,617,378.66 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $196.26, for a total value of $1,617,378.66. Following the completion of the transaction, the chief executive officer now owns 407,655 shares of the company’s stock, valued at approximately $80,006,370.30. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.46, for a total value of $1,627,267.86.
• On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was 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 transaction of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.25, for a total transaction 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 transaction 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 transaction of $1,595,045.55.
• On Monday, March 25th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was 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 shares were 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 shares were sold at an average price of $210.65, for a total value of $1,735,966.65.

Atlassian Stock Down 1.1 %

NASDAQ TEAM opened at $191.55 on Friday. The business has a fifty day moving average price of $201.83 and a two-hundred day moving average price of $206.53. The stock has a market capitalization of $49.69 billion, a PE ratio of -128.56 and a beta of 0.63. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. William Blair restated an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. The Goldman Sachs Group raised their price objective on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Mizuho decreased their target price on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, April 15th. KeyCorp initiated coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating for the company. Finally, Wells Fargo & Company upped their price objective on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $224.25.

Institutional Investors Weigh In On Atlassian

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Atlassian by 3.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock worth $2,435,095,000 after buying an additional 326,673 shares in the last quarter. WCM Investment Management LLC lifted its stake in shares of Atlassian by 2.7% in the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after acquiring an additional 249,017 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after acquiring an additional 1,511,318 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Atlassian by 26.0% during the 1st quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock valued at $1,294,640,000 after acquiring an additional 1,561,804 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

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.