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

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $162.68, for a total value of $1,246,942.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, December 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.66, for a total value of $1,254,453.90.
• On Friday, December 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.53, for a total value of $1,245,792.45.
• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.40, for a total transaction of $1,244,796.00.
• On Tuesday, December 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction of $1,236,364.50.
• 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 Monday, December 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.92, for a total transaction of $1,218,121.80.
• 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 stock was 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 value of $1,230,079.20.

Atlassian Stock Performance

Shares of Atlassian stock opened at $162.14 on Friday. The business has a 50-day simple moving average of $158.04 and a 200 day simple moving average of $171.25. 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 current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $42.66 billion, a price-to-earnings ratio of -228.36, a PEG ratio of 25.11 and a beta of 0.88.

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $240.00 price objective on shares of Atlassian in a report on Friday, October 31st. Zacks Research raised shares of Atlassian from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $260.00 price target on shares of Atlassian in a research report on Friday, October 31st. Bank of America assumed coverage on Atlassian in a research note on Tuesday, September 23rd. They set a “neutral” rating and a $200.00 price target for the company. Finally, BTIG Research assumed coverage on Atlassian in a research note on Tuesday, December 16th. They issued a “buy” rating and a $220.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $239.23.

Hedge Funds Weigh In On Atlassian

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

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.