Atlassian (NASDAQ:TEAM) CEO Sells $1,218,121.80 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $158.92, for a total value of $1,218,121.80. Following the completion of the transaction, the chief executive officer directly owned 76,650 shares in the company, valued at approximately $12,181,218. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, December 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.16, for a total transaction of $1,250,621.40.
• On Friday, December 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.11, for a total transaction of $1,242,573.15.
• On Wednesday, December 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.79, for a total transaction of $1,240,120.35.
• On Monday, December 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.70, for a total transaction of $1,231,765.50.
• On Friday, December 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total transaction of $1,230,079.20.
• On Wednesday, December 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total value 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 shares were 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 stock was 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 stock was sold at an average price of $144.02, for a total value of $1,103,913.30.

Atlassian Stock Up 1.9%

NASDAQ TEAM opened at $165.00 on Friday. The stock has a 50 day moving average price of $156.82 and a 200-day moving average price of $174.46. Atlassian Corporation PLC has a one year low of $139.70 and a one year high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $43.41 billion, a P/E ratio of -232.39, a P/E/G ratio of 30.55 and a beta of 0.89.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. KeyCorp dropped their price target on Atlassian from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, October 23rd. Citigroup reiterated a “buy” rating on shares of Atlassian in a report on Wednesday, October 22nd. The Goldman Sachs Group reissued a “buy” rating and set a $260.00 target price on shares of Atlassian in a research report on Friday, October 31st. BTIG Research initiated coverage on Atlassian in a research report on Tuesday. They issued a “buy” rating and a $220.00 price target for the company. Finally, Macquarie cut their price objective on shares of Atlassian from $250.00 to $240.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $239.23.

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. DNB Asset Management AS boosted its position in Atlassian by 266.6% in the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock valued at $448,260,000 after buying an additional 2,041,210 shares during the period. Norges Bank purchased a new position in shares of Atlassian during the second quarter worth approximately $377,794,000. Artisan Partners Limited Partnership raised its stake in shares of Atlassian by 66.3% during the second quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock valued at $787,610,000 after acquiring an additional 1,545,546 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Atlassian by 6.0% in the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock valued at $2,951,186,000 after purchasing an additional 1,049,483 shares during the period. Finally, AQR Capital Management LLC grew its stake in Atlassian by 145.6% in the first quarter. AQR Capital Management LLC now owns 1,715,287 shares of the technology company’s stock worth $354,858,000 after purchasing an additional 1,016,902 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.