Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,717,483.32 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $216.09, for a total transaction of $1,717,483.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, June 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $208.43, for a total transaction of $1,656,601.64.
• On Thursday, May 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $205.73, for a total transaction of $1,635,142.04.
• On Tuesday, May 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.81, for a total transaction of $1,675,517.88.
• On Friday, May 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $206.57, for a total value of $1,641,818.36.
• On Monday, May 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $214.92, for a total transaction of $1,708,184.16.
• On Friday, May 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $221.41, for a total transaction of $1,759,766.68.
• On Wednesday, May 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $225.44, for a total transaction of $1,791,797.12.
• On Monday, May 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.47, for a total value of $1,768,191.56.
• On Thursday, May 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $209.19, for a total value of $1,662,642.12.
• On Wednesday, April 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $225.64, for a total value of $1,793,386.72.

Atlassian Trading Down 1.9%

NASDAQ TEAM opened at $214.51 on Monday. The firm has a market cap of $56.31 billion, a P/E ratio of -160.08 and a beta of 0.96. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock’s 50-day moving average is $209.80 and its 200-day moving average is $244.62. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Atlassian’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share. Sell-side analysts anticipate that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Corebridge Financial Inc. grew its stake in Atlassian by 0.3% in the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company’s stock valued at $2,555,000 after purchasing an additional 35 shares in the last quarter. GeoWealth Management LLC raised its holdings in shares of Atlassian by 26.8% during the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company’s stock worth $44,000 after buying an additional 38 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after buying an additional 41 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after buying an additional 47 shares in the last quarter. Finally, State of Wyoming raised its holdings in shares of Atlassian by 20.3% during the 1st quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after buying an additional 47 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TEAM. Macquarie reduced their target price on Atlassian from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Baird R W upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. Barclays reduced their target price on Atlassian from $350.00 to $260.00 and set an “overweight” rating for the company in a report on Monday, May 5th. BMO Capital Markets cut their price target on Atlassian from $295.00 to $245.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Finally, Piper Sandler reiterated an “overweight” rating and set a $300.00 price target (down from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $285.29.

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.