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 business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $154.20, for a total value of $1,181,943.00. Following the transaction, the chief executive officer owned 444,570 shares in the company, valued at approximately $68,552,694. This represents a 1.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, January 2nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $156.15, for a total value of $1,196,889.75.
• On Wednesday, December 31st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.68, for a total value of $1,246,942.20.
• 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 shares were sold at an average price of $162.53, for a total transaction of $1,245,792.45.
• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were 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 stock was 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 shares were 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 value 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 value of $1,240,120.35.

Atlassian Price Performance

TEAM stock opened at $160.87 on Thursday. The company has a market capitalization of $42.33 billion, a PE ratio of -226.57, a P/E/G ratio of 24.52 and a beta of 0.88. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock’s 50 day moving average is $157.59 and its two-hundred day moving average is $169.98. Atlassian Corporation PLC has a 52-week low of $139.70 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. The company’s revenue was up 20.6% on a year-over-year basis. Analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Several large investors have recently added to or reduced their stakes in TEAM. One Wealth Advisors LLC increased its holdings in shares of Atlassian by 56.7% in the 2nd quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company’s stock valued at $901,000 after purchasing an additional 1,606 shares during the period. Allianz Asset Management GmbH increased its stake in Atlassian by 28.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 102,194 shares of the technology company’s stock valued at $20,755,000 after buying an additional 22,701 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in Atlassian by 3.7% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 258,299 shares of the technology company’s stock worth $52,458,000 after buying an additional 9,274 shares in the last quarter. Machina Capital S.A.S. boosted its stake in shares of Atlassian by 203.0% during the 2nd quarter. Machina Capital S.A.S. now owns 9,376 shares of the technology company’s stock valued at $1,904,000 after buying an additional 6,282 shares during the period. Finally, Nicholas Company Inc. grew its holdings in shares of Atlassian by 10.0% during the 2nd quarter. Nicholas Company Inc. now owns 227,789 shares of the technology company’s stock valued at $46,262,000 after acquiring an additional 20,635 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on TEAM shares. Truist Financial set a $210.00 target price on shares of Atlassian in a research note on Friday, October 31st. Cowen reaffirmed a “hold” rating on shares of Atlassian in a research report on Monday, October 27th. BTIG Research started coverage on shares of Atlassian in a research note on Tuesday, December 16th. They set a “buy” rating and a $220.00 price objective on the stock. KeyCorp decreased their target price on Atlassian from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, October 23rd. Finally, Piper Sandler lowered their target price on Atlassian from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one 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 data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $238.46.

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.