Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 7,665 Shares

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $213.97, for a total value of $1,640,080.05. Following the completion of the transaction, the chief executive officer owned 467,565 shares in the company, valued at $100,044,883.05. The trade was a 1.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, June 30th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $203.16, for a total value of $1,557,221.40.
• On Friday, June 27th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $203.66, for a total value of $1,561,053.90.
• On Wednesday, June 25th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $199.71, for a total value of $1,530,777.15.
• On Monday, June 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.68, for a total value of $1,476,892.20.
• On Friday, June 20th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.44, for a total transaction of $1,475,052.60.
• On Wednesday, June 18th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $196.44, for a total transaction of $1,505,712.60.
• On Monday, June 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $200.68, for a total transaction of $1,538,212.20.
• On Thursday, June 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $199.55, for a total transaction of $1,529,550.75.
• On Monday, June 9th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $215.23, for a total transaction of $1,649,737.95.
• On Friday, June 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.09, for a total value of $1,717,483.32.

Atlassian Price Performance

NASDAQ:TEAM traded up $6.65 during trading hours on Thursday, hitting $213.43. 1,566,326 shares of the company's stock traded hands, compared to its average volume of 2,148,822. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The business's fifty day simple moving average is $210.12 and its two-hundred day simple moving average is $236.38. 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 firm has a market cap of $56.03 billion, a P/E ratio of -128.57 and a beta of 0.94.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The company's revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 EPS. On average, research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of TEAM. Vanguard Group Inc. raised its position in shares of Atlassian by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock valued at $3,606,198,000 after buying an additional 580,583 shares in the last quarter. Baillie Gifford & Co. grew its position in Atlassian by 7.1% in the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after acquiring an additional 573,696 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after acquiring an additional 1,806,042 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Atlassian by 21.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock valued at $730,175,000 after purchasing an additional 616,071 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in Atlassian by 24.1% during the first quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company's stock worth $571,894,000 after purchasing an additional 523,035 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on TEAM. BMO Capital Markets lowered their target price on Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Truist Financial decreased their price objective on Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a report on Monday, March 31st. Piper Sandler restated an "overweight" rating and issued a $300.00 price objective (down from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. Stephens cut their target price on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $300.00 target price (down previously from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $282.19.

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.

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