Michael Cannon-Brookes Sells 8,241 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $197.46, for a total transaction of $1,627,267.86. Following the completion of the transaction, the chief executive officer now owns 424,137 shares in the company, valued at $83,750,092.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $201.81, for a total transaction of $1,663,116.21.
• On Monday, April 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.71, for a total transaction of $1,629,328.11.
• On Friday, April 5th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.25, for a total transaction of $1,617,296.25.
• On Wednesday, April 3rd, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $195.98, for a total transaction of $1,615,071.18.
• On Monday, April 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $193.55, for a total transaction of $1,595,045.55.
• On Monday, March 25th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $192.21, for a total transaction of $1,584,002.61.
• On Wednesday, March 20th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $195.12, for a total transaction of $1,607,983.92.
• On Friday, March 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.83, for a total transaction of $1,630,317.03.
• On Wednesday, March 13th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $210.65, for a total transaction of $1,735,966.65.
• On Thursday, March 7th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $200.73, for a total transaction of $1,654,215.93.

Atlassian Trading Up 0.5 %

TEAM traded up $0.92 during trading on Wednesday, hitting $195.77. 883,158 shares of the stock traded hands, compared to its average volume of 1,703,984. The firm has a market capitalization of $50.78 billion, a P/E ratio of -131.93 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a 50-day moving average of $203.04 and a 200 day moving average of $206.74. Atlassian Co. has a 12-month low of $128.02 and a 12-month high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Equities research analysts anticipate that Atlassian Co. will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. OFI Invest Asset Management bought a new stake in Atlassian during the 3rd quarter valued at about $26,000. Meeder Asset Management Inc. increased its stake in Atlassian by 151.5% during the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after purchasing an additional 147 shares in the last quarter. Tyler Stone Wealth Management bought a new stake in Atlassian during the 2nd quarter valued at about $34,000. Quarry LP bought a new stake in shares of Atlassian in the second quarter worth approximately $44,000. Finally, Harbour Investments Inc. grew its stake in shares of Atlassian by 148.8% in the fourth quarter. Harbour Investments Inc. now owns 199 shares of the technology company’s stock worth $47,000 after acquiring an additional 119 shares during the period. 93.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on TEAM. KeyCorp assumed coverage on shares of Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. William Blair reissued an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Mizuho decreased their price target on shares of Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Monday. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Hold” and a consensus target price of $224.25.

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.