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

Key Points

• Michael Cannon-Brookes, CEO of Atlassian, recently sold 7,665 shares of the company's stock, totaling approximately $1.55 million, which reduced his holdings by 2.13%.
• Atlassian's stock is currently trading down 0.6% at about $201.84, with a market cap of $52.98 billion and earnings per share forecasted at -0.34 for the current fiscal year.
• Equities analysts maintain a consensus rating of "Moderate Buy" for Atlassian, with a current target price of $274.05, despite some recent downward adjustments from various analysts.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $202.55, for a total transaction of $1,552,545.75. Following the transaction, the chief executive officer directly owned 352,590 shares in the company, valued at $71,417,104.50. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 shares were sold at an average price of $194.98, for a total transaction of $1,494,521.70.
• 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 stock was 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 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 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.

Atlassian Stock Down 0.6%

Shares of TEAM stock traded down $1.16 during mid-day trading on Monday, reaching $201.84. 1,018,272 shares of the company's stock traded hands, compared to its average volume of 2,305,678. Atlassian Corporation PLC has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a market cap of $52.98 billion, a P/E ratio of -121.59 and a beta of 0.94. 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 company's 50-day moving average price is $203.90 and its 200-day moving average price is $230.10.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Atlassian's quarterly revenue was up 14.1% on a year-over-year basis. On average, equities analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Raymond James Financial reiterated an "outperform" rating and set a $300.00 price target (down from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Baird R W upgraded shares of Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Piper Sandler restated an "overweight" rating and set a $300.00 price target (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. BMO Capital Markets cut their target price on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Morgan Stanley cut their target price on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $274.05.

Institutional Trading of Atlassian

A number of hedge funds have recently made changes to their positions in TEAM. Clean Yield Group grew its holdings in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after buying an additional 93 shares during the last quarter. Colonial Trust Co SC lifted its stake in shares of Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares during the period. Smithfield Trust Co raised its holdings in Atlassian by 90.7% in the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after purchasing an additional 78 shares during the period. Summit Securities Group LLC bought a new position in shares of Atlassian in the fourth quarter worth about $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Atlassian during the 4th quarter worth approximately $39,000. 94.45% of the stock is owned by institutional investors.

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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