Atlassian (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 7,665 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $160.48, for a total transaction of $1,230,079.20. Following the completion of the sale, the chief executive officer owned 130,305 shares in the company, valued at approximately $20,911,346.40. This trade represents a 5.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, December 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.08, for a total transaction of $1,188,688.20.
• On Friday, November 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $150.12, for a total value of $1,150,669.80.
• On Wednesday, November 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $148.29, for a total value of $1,136,642.85.
• On Monday, November 24th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $146.62, for a total value of $1,123,842.30.
• On Friday, November 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $144.02, for a total value of $1,103,913.30.
• On Wednesday, November 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.63, for a total transaction of $1,131,583.95.
• On Monday, November 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.41, for a total transaction of $1,129,897.65.
• On Thursday, November 13th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $153.77, for a total transaction of $1,178,647.05.
• On Monday, November 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.00, for a total transaction of $1,211,070.00.
• On Friday, November 7th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.58, for a total transaction of $1,192,520.70.

Atlassian Trading Up 0.9%

Shares of Atlassian stock opened at $160.74 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $155.11 and its 200-day simple moving average is $176.60. The stock has a market cap of $42.29 billion, a P/E ratio of -226.39, a P/E/G ratio of 30.05 and a beta of 0.89. Atlassian Corporation PLC has a 1-year low of $139.70 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm’s revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share. Analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TEAM. Mizuho upped their price objective on shares of Atlassian from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, October 31st. The Goldman Sachs Group reiterated a “buy” rating and issued a $260.00 price objective on shares of Atlassian in a research report on Friday, October 31st. Cowen reiterated a “hold” rating on shares of Atlassian in a research report on Monday, October 27th. Piper Sandler reiterated an “overweight” rating and issued a $300.00 price objective on shares of Atlassian in a report on Friday, October 31st. Finally, Robert W. Baird set a $230.00 target price on shares of Atlassian in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $240.00.

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently bought and sold shares of TEAM. Allworth Financial LP boosted its holdings in Atlassian by 21.6% in the 3rd quarter. Allworth Financial LP now owns 3,161 shares of the technology company’s stock valued at $505,000 after purchasing an additional 561 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Atlassian by 624.6% in the third quarter. IFP Advisors Inc now owns 5,174 shares of the technology company’s stock worth $826,000 after acquiring an additional 4,460 shares during the last quarter. Swiss Life Asset Management Ltd lifted its holdings in Atlassian by 14.7% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 27,397 shares of the technology company’s stock valued at $4,375,000 after purchasing an additional 3,505 shares in the last quarter. Cambria Investment Management L.P. acquired a new stake in Atlassian during the third quarter worth approximately $671,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Atlassian during the third quarter worth $1,925,000. 94.45% of the stock is currently 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.