Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells 8,241 Shares of Stock

Posted by Defense World Staff on May 4th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 8,241 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $172.99, for a total transaction of $1,425,610.59. Following the sale, the chief executive officer now directly owns 325,245 shares in the company, valued at $56,264,132.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.95, for a total transaction of $1,474,726.95.
On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $191.53, for a total transaction of $1,578,398.73.
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 transaction of $1,617,378.66.
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 transaction of $1,627,267.86.
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 transaction 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 shares were 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 transaction of $1,584,002.61.

Atlassian Stock Down 0.0 %

Atlassian stock opened at $183.52 on Friday. The company has a market cap of $47.61 billion, a P/E ratio of -291.30 and a beta of 0.67. Atlassian Co. has a 1-year low of $128.02 and a 1-year high of $258.69. The company has a fifty day simple moving average of $197.23 and a 200 day simple moving average of $205.93. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 0.82.

Atlassian (NASDAQ:TEAM – Get Free Report) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned ($0.40) earnings per share. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. Research analysts anticipate that Atlassian Co. will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TEAM. OFI Invest Asset Management bought a new position in shares of Atlassian in the 3rd quarter valued at about $26,000. Hollencrest Capital Management grew its position in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Carmel Capital Partners LLC grew its position in shares of Atlassian by 28.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after acquiring an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Atlassian by 271.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after acquiring an additional 271 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Atlassian by 255.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after acquiring an additional 291 shares during the period. Institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TEAM shares. Piper Sandler cut their target price on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. Wells Fargo & Company increased their target price on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. The Goldman Sachs Group increased their target price on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Finally, TD Cowen cut their target price on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $223.22.

Get Our Latest Stock Analysis on Atlassian

About Atlassian

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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.