Atlassian Corporation PLC (NASDAQ:TEAM) CEO Sells $1,477,965.30 in 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 on Friday, July 18th. The stock was sold at an average price of $192.82, for a total value of $1,477,965.30. Following the sale, the chief executive officer owned 390,915 shares in the company, valued at $75,376,230.30. This represents a 1.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, July 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.78, for a total value of $1,554,308.70.
• On Monday, July 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $194.98, for a total value of $1,494,521.70.
• On Wednesday, July 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $189.37, for a total value 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 value 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 value 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 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 value 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 value 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 value of $1,557,221.40.
• On Friday, June 27th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $203.66, for a total value of $1,561,053.90.

Atlassian Stock Down 1.4%

Shares of Atlassian stock traded down $2.74 on Thursday, hitting $199.83. The company had a trading volume of 1,468,094 shares, compared to its average volume of 2,117,042. The stock has a market capitalization of $52.46 billion, a price-to-earnings ratio of -120.38 and a beta of 0.94. Atlassian Corporation PLC has a 1 year low of $135.29 and a 1 year high of $326.00. The stock has a 50 day moving average of $204.25 and a 200-day moving average of $230.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

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

Analysts Set New Price Targets

Several equities research analysts recently commented on TEAM shares. Piper Sandler restated an "overweight" rating and set a $300.00 target price (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Stephens dropped their price target on Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a research note on Friday, May 2nd. Macquarie dropped their price target on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Finally, Canaccord Genuity Group dropped their price target on Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Five investment 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $274.05.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC increased its position in shares of Atlassian by 37.7% during the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock valued at $80,000 after acquiring an additional 101 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Atlassian by 42.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock valued at $900,000 after acquiring an additional 1,259 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Atlassian by 350.1% during the first quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock valued at $11,014,000 after acquiring an additional 40,369 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Atlassian by 47,387.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock valued at $822,000 after acquiring an additional 3,791 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Atlassian by 6.1% during the first quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock valued at $2,411,000 after acquiring an additional 650 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.