Atlassian (NASDAQ:TEAM) CEO Sells $913,284.75 in Stock

Key Points

• Atlassian CEO Michael Cannon-Brookes sold 7,665 shares on January 30 at an average price of $119.15 for $913,284.75, leaving him with 314,265 shares (a 2.38% reduction) valued at about $37.4 million.
• He executed a series of identical sales throughout January (11 transactions total), disposing of roughly 84,315 shares for approximately $11.5 million in aggregate.
• Shares of TEAM are trading near the 52-week low (around $113.70) while analyst coverage is a "Moderate Buy" consensus (20 Buys, 6 Holds, 1 Sell) with a mean target of $227.60.

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 Friday, January 30th. The stock was sold at an average price of $119.15, for a total value of $913,284.75. Following the transaction, the chief executive officer directly owned 314,265 shares in the company, valued at $37,444,674.75. This trade represents a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, January 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $135.44, for a total transaction of $1,038,147.60.
• On Monday, January 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $136.93, for a total value of $1,049,568.45.
• On Thursday, January 22nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $126.11, for a total value of $966,633.15.
• On Tuesday, January 20th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $118.19, for a total transaction of $905,926.35.
• On Friday, January 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $120.82, for a total value of $926,085.30.
• On Wednesday, January 14th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $133.66, for a total value of $1,024,503.90.
• On Monday, January 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.15, for a total transaction of $1,127,904.75.
• On Friday, January 9th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $145.91, for a total value of $1,118,400.15.
• On Wednesday, January 7th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.11, for a total value of $1,234,908.15.
• On Monday, January 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $154.20, for a total transaction of $1,181,943.00.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $4.48 during midday trading on Monday, reaching $113.70. 5,159,953 shares of the company traded hands, compared to its average volume of 4,788,458. The stock has a 50-day moving average price of $148.99 and a 200 day moving average price of $161.14. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market cap of $29.92 billion, a price-to-earnings ratio of -160.14, a PEG ratio of 18.30 and a beta of 0.88. Atlassian Corporation PLC has a 52 week low of $113.47 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm posted $0.77 earnings per share. The firm's revenue for the quarter was up 20.6% compared to the same quarter last year. Sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Several institutional investors have recently bought and sold shares of the stock. Capco Asset Management LLC acquired a new stake in shares of Atlassian in the 2nd quarter valued at $25,000. Physician Wealth Advisors Inc. grew its position in Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company's stock worth $26,000 after acquiring an additional 61 shares during the last quarter. Atlantic Union Bankshares Corp boosted its stake in Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company's stock worth $32,000 after purchasing an additional 199 shares in the last quarter. Board of the Pension Protection Fund bought a new position in shares of Atlassian in the fourth quarter valued at about $32,000. Finally, Bogart Wealth LLC grew its holdings in Atlassian by 76.4% during the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company's stock worth $35,000 after acquiring an additional 94 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on TEAM. UBS Group set a $145.00 target price on Atlassian in a research report on Tuesday, January 27th. BMO Capital Markets lifted their target price on shares of Atlassian from $190.00 to $195.00 and gave the company an "outperform" rating in a research note on Friday, October 31st. Macquarie decreased their price target on Atlassian from $250.00 to $240.00 and set an "outperform" rating for the company in a research note on Monday, November 3rd. TD Cowen lowered their target price on shares of Atlassian from $205.00 to $175.00 and set a "hold" rating on the stock in a research note on Tuesday, January 20th. Finally, Mizuho cut their price target on Atlassian from $245.00 to $225.00 and set an "outperform" rating for the company in a report on Wednesday, January 21st. Twenty investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $227.60.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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