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

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $200.68, for a total transaction of $1,538,212.20. Following the transaction, the chief executive officer now directly owns 68,985 shares in the company, valued at approximately $13,843,909.80. The trade was a 10.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 stock was sold at an average price of $215.23, for a total value 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.
• On Tuesday, June 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64.
• On Thursday, May 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $205.73, for a total value of $1,635,142.04.
• On Tuesday, May 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.81, for a total value of $1,675,517.88.
• On Friday, May 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $206.57, for a total transaction of $1,641,818.36.
• On Monday, May 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $214.92, for a total transaction of $1,708,184.16.
• On Friday, May 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $221.41, for a total transaction of $1,759,766.68.
• On Wednesday, May 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $225.44, for a total transaction of $1,791,797.12.

Atlassian Stock Performance

Shares of TEAM traded down $2.12 during midday trading on Tuesday, reaching $198.20. 1,806,044 shares of the stock were exchanged, compared to its average volume of 2,123,185. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 12-month low of $135.29 and a 12-month high of $326.00. The firm has a 50 day simple moving average of $210.81 and a 200-day simple moving average of $241.89.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The company's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 earnings per share. On average, equities research analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

TEAM has been the topic of several research reports. Wells Fargo & Company dropped their price target on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. KeyCorp cut their target price on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Barclays reduced their target price on Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Finally, BMO Capital Markets reduced their price objective on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and a consensus price target of $282.19.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently modified their holdings of the business. 1248 Management LLC acquired a new position in Atlassian during the first quarter worth $413,000. First Hawaiian Bank acquired a new stake in shares of Atlassian in the first quarter worth about $292,000. Strs Ohio bought a new stake in shares of Atlassian during the 1st quarter worth about $21,914,000. Diker Management LLC bought a new stake in shares of Atlassian during the 1st quarter worth about $849,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Atlassian by 68.9% during the 1st quarter. Acadian Asset Management LLC now owns 951,429 shares of the technology company's stock valued at $201,875,000 after acquiring an additional 388,196 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

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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