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 business's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $192.64, for a total value of $1,476,585.60. Following the completion of the sale, the chief executive officer owned 429,240 shares of the company's stock, valued at approximately $82,688,793.60. This trade represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• 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 value 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.
• On Thursday, July 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were 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 value of $1,561,053.90.
• On Wednesday, June 25th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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 shares were 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.

Atlassian Stock Up 2.5%

NASDAQ TEAM traded up $4.60 on Monday, reaching $191.61. The company had a trading volume of 2,880,497 shares, compared to its average volume of 2,346,130. 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 stock has a market capitalization of $50.30 billion, a P/E ratio of -115.43 and a beta of 0.94. The company's fifty day moving average is $207.96 and its 200 day moving average is $233.70. 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 issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.89 EPS. Sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Clean Yield Group lifted its stake in Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after purchasing an additional 93 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian in the fourth quarter valued at $27,000. Colonial Trust Co SC lifted its position in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after buying an additional 69 shares during the last quarter. Smithfield Trust Co grew its stake in shares of Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after acquiring an additional 78 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in Atlassian in the 4th quarter worth about $38,000. Institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. KeyCorp reduced their price target on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Piper Sandler reaffirmed an "overweight" rating and set a $300.00 target price (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $304.00 to $272.00 in a report on Wednesday, April 2nd. Barclays decreased their price target on Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Finally, Truist Financial reduced their target price on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $285.75.

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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