Atlassian Corporation PLC (NASDAQ:TEAM) CEO Sells $1,494,521.70 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $194.98, for a total transaction of $1,494,521.70. Following the completion of the sale, the chief executive officer directly owned 383,250 shares in the company, valued at approximately $74,726,085. This represents a 1.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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 transaction of $1,554,308.70.
• On Friday, July 18th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.82, for a total transaction of $1,477,965.30.
• On Wednesday, July 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $189.37, for a total transaction of $1,451,521.05.
• On Monday, July 14th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.06, for a total transaction 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 transaction 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 transaction 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 stock was 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.

Atlassian Stock Up 1.5%

TEAM stock traded up $3.08 during trading on Friday, hitting $202.91. 600,059 shares of the stock traded hands, compared to its average volume of 2,310,939. Atlassian Corporation PLC has a 1 year low of $135.29 and a 1 year high of $326.00. The firm's 50 day moving average is $204.25 and its two-hundred day moving average is $230.61. The stock has a market cap of $53.26 billion, a price-to-earnings ratio of -122.24 and a beta of 0.94. 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 (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $1.36 billion for 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 business's quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 EPS. On average, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Trading of Atlassian

Several large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its position in shares of Atlassian by 37.7% in the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock worth $80,000 after purchasing an additional 101 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Atlassian by 350.1% in the first quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock worth $11,014,000 after buying an additional 40,369 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Atlassian by 47,387.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock worth $822,000 after buying an additional 3,791 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Atlassian by 6.1% in the first quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock worth $2,411,000 after buying an additional 650 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of research reports. KeyCorp cut their price objective on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. Baird R W upgraded shares of Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Raymond James Financial reiterated an "outperform" rating and set a $300.00 price target (down from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Truist Financial lowered their price target on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Morgan Stanley lowered their price target on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Five investment 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 data from MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus price target of $274.05.

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.