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

Key Points

• Michael Cannon-Brookes, CEO of Atlassian Corporation PLC, sold 7,665 shares of the company's stock for a total of $1,548,713.25, resulting in a 2.17% decrease in his ownership.
• The company's stock price recently traded down to $200.06, with a market capitalization of $52.52 billion and a 1-year trading range between $135.29 and $326.00.
• Atlassian recently posted quarterly earnings of $0.97 EPS, exceeding analyst expectations, alongside a 14.1% increase in revenue compared to the same quarter last year.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $202.05, for a total transaction of $1,548,713.25. Following the completion of the transaction, the chief executive officer directly owned 344,925 shares of the company's stock, valued at approximately $69,692,096.25. This trade represents a 2.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, July 30th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $197.88, for a total transaction of $1,516,750.20.
• On Friday, July 25th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.55, for a total transaction of $1,552,545.75.
• On Wednesday, July 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $202.78, for a total transaction of $1,554,308.70.
• On Monday, July 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $194.98, for a total transaction of $1,494,521.70.
• On Friday, July 18th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.82, for a total transaction of $1,477,965.30.
• On Wednesday, July 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $189.37, for a total transaction of $1,451,521.05.
• On Monday, July 14th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.06, for a total transaction of $1,472,139.90.
• On Friday, July 11th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.64, for a total transaction of $1,476,585.60.
• On Wednesday, July 9th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $219.98, for a total transaction of $1,686,146.70.
• On Monday, July 7th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $214.49, for a total transaction of $1,644,065.85.

Atlassian Stock Performance

TEAM traded down $6.46 during midday trading on Friday, hitting $185.32. 682,728 shares of the company traded hands, compared to its average volume of 2,275,935. 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 capitalization of $48.65 billion, a PE ratio of -111.54 and a beta of 0.94. The company's 50-day moving average is $202.78 and its 200 day moving average is $229.08. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00.

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

Analyst Ratings Changes

A number of analysts recently issued reports on TEAM shares. Raymond James Financial restated an "outperform" rating and set a $300.00 price objective (down previously from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Capital One Financial lowered shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective for the company. in a research report on Wednesday, July 16th. Macquarie dropped their target price on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Piper Sandler reaffirmed an "overweight" rating and issued a $300.00 target price (down from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. Finally, UBS Group reaffirmed a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $274.05.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Vanguard Group Inc. grew its holdings in 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. lifted 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 buying an additional 573,696 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Atlassian by 21.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock worth $730,175,000 after buying an additional 616,071 shares during the last quarter. Voya Investment Management LLC lifted its position in Atlassian by 24.1% in the first quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company's stock worth $571,894,000 after buying an additional 523,035 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after buying an additional 1,777,179 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.