Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,529,990.00 in Stock

Atlassian Co. (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $192.50, for a total value of $1,529,990.00. Following the sale, the chief executive officer now directly owns 262,284 shares of the company's stock, valued at approximately $50,489,670. This represents a 2.94 % decrease in their ownership of the stock. 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, April 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.23, for a total value of $1,670,908.04.
• On Wednesday, April 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $205.94, for a total transaction of $1,636,811.12.
• On Friday, April 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $195.91, for a total value of $1,557,092.68.
• On Wednesday, April 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $195.56, for a total transaction of $1,554,310.88.
• On Friday, April 4th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $188.28, for a total transaction of $1,496,449.44.
• On Wednesday, April 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.68, for a total value of $1,769,860.64.
• On Monday, March 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $209.73, for a total value of $1,666,934.04.
• On Friday, March 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.63, for a total transaction of $1,721,775.24.
• On Thursday, March 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $226.93, for a total transaction of $1,803,639.64.
• On Tuesday, March 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.90, for a total transaction of $1,723,921.20.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded up $3.60 on Friday, hitting $228.68. 2,545,073 shares of the company were exchanged, compared to its average volume of 2,049,232. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company's 50 day moving average price is $229.25 and its two-hundred day moving average price is $244.20. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The firm has a market capitalization of $59.91 billion, a price-to-earnings ratio of -170.66 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TEAM. Stephens reissued an "equal weight" rating and issued a $255.00 price objective on shares of Atlassian in a report on Monday, April 14th. William Blair reissued an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. Macquarie raised shares of Atlassian from a "neutral" rating to an "outperform" rating and reduced their price objective for the stock from $317.00 to $270.00 in a report on Thursday, April 10th. Scotiabank raised their target price on shares of Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research note on Friday, January 31st. Finally, Truist Financial reduced their price target on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $301.90.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in Atlassian in the third quarter valued at about $606,000. SkyView Investment Advisors LLC grew its position in shares of Atlassian by 3.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,128 shares of the technology company's stock worth $656,000 after buying an additional 122 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of Atlassian by 59.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,901 shares of the technology company's stock valued at $461,000 after acquiring an additional 1,081 shares during the last quarter. Tidal Investments LLC raised its position in shares of Atlassian by 143.2% in the 3rd quarter. Tidal Investments LLC now owns 12,605 shares of the technology company's stock valued at $2,002,000 after acquiring an additional 7,422 shares during the period. Finally, Synovus Financial Corp boosted its stake in Atlassian by 26.4% during the 3rd quarter. Synovus Financial Corp now owns 19,962 shares of the technology company's stock worth $3,170,000 after acquiring an additional 4,173 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

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.