Atlassian Corporation PLC (NASDAQ:TEAM) CEO Sells $1,644,065.85 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Monday, July 7th. The stock was sold at an average price of $214.49, for a total value of $1,644,065.85. Following the sale, the chief executive officer owned 459,900 shares in the company, valued at $98,643,951. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, July 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $213.97, for a total transaction of $1,640,080.05.
• 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 transaction 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 transaction 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 shares were 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 value of $1,475,052.60.
• On Wednesday, June 18th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were 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 stock was 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 shares were 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 shares were sold at an average price of $215.23, for a total transaction of $1,649,737.95.

Atlassian Trading Up 1.5%

Atlassian stock traded up $3.31 during mid-day trading on Tuesday, hitting $219.36. The company's stock had a trading volume of 2,538,752 shares, compared to its average volume of 2,160,326. The business has a 50 day moving average price of $209.30 and a 200-day moving average price of $235.05. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian Corporation PLC has a 12 month low of $135.29 and a 12 month high of $326.00. The stock has a market cap of $57.58 billion, a price-to-earnings ratio of -132.14 and a beta of 0.94.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the company posted $0.89 EPS. Atlassian's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its stake in shares of Atlassian by 37.7% during the 1st quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock valued at $80,000 after purchasing an additional 101 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Atlassian by 42.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock worth $900,000 after buying an additional 1,259 shares during the period. Amalgamated Bank grew its holdings in shares of Atlassian by 6.1% during the 1st quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock worth $2,411,000 after acquiring an additional 650 shares during the period. LPL Financial LLC grew its holdings in shares of Atlassian by 93.4% during the 4th quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock worth $12,542,000 after acquiring an additional 24,891 shares during the period. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Atlassian in the 1st quarter worth approximately $252,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and cut their price target for the stock from $304.00 to $272.00 in a report on Wednesday, April 2nd. UBS Group restated a "hold" rating on shares of Atlassian in a research note on Monday. Truist Financial decreased their price target on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $300.00 target price (down previously from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Four investment 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 company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $282.19.

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.

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