Atlassian Corporation PLC (NASDAQ:TEAM) CEO Sells $1,424,233.65 in Stock

Key Points

• Michael Cannon-Brookes, CEO of Atlassian Corporation PLC, sold 7,665 shares at an average price of $185.81, totaling $1,424,233.65, which decreased his ownership by 2.56%.
• Atlassian stock is currently priced at $171.00, down $14.50, with a market cap of $44.89 billion and a one-year trading range between $136.84 and $326.00.
• Several analysts have recently adjusted their ratings for Atlassian, with the average consensus price target now at $274.05, reflecting a mix of buy and hold ratings from investment firms.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $185.81, for a total transaction of $1,424,233.65. Following the transaction, the chief executive officer directly owned 291,270 shares in the company, valued at $54,120,878.70. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, August 4th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $185.43, for a total value of $1,421,320.95.
• On Friday, August 1st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $184.43, for a total value of $1,413,655.95.
• On Wednesday, July 30th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $197.88, for a total value of $1,516,750.20.
• On Monday, July 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.05, for a total value of $1,548,713.25.
• On Friday, July 25th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.55, for a total value of $1,552,545.75.
• 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 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 value of $1,477,965.30.
• 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.

Atlassian Stock Performance

Atlassian stock traded down $0.60 during midday trading on Monday, reaching $167.46. 1,029,783 shares of the company's stock were exchanged, compared to its average volume of 2,341,083. Atlassian Corporation PLC has a 52 week low of $139.23 and a 52 week high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $43.96 billion, a price-to-earnings ratio of -169.15 and a beta of 0.96. The stock's 50-day simple moving average is $199.40 and its 200 day simple moving average is $225.57.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.15. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter last year, the company posted $0.66 earnings per share. Atlassian's quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TEAM. UBS Group restated a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. Oppenheimer reduced their target price on Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, July 21st. KeyCorp dropped their price objective on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research report on Thursday, July 17th. Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and lowered their target price for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Finally, Canaccord Genuity Group lowered their target price on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Friday. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Atlassian currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.76.

Hedge Funds Weigh In On Atlassian

Institutional investors and hedge funds have recently made changes to their positions in the company. Clean Yield Group grew its position in shares of 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. Capco Asset Management LLC bought a new stake in shares of Atlassian in the second quarter valued at approximately $25,000. Colonial Trust Co SC boosted its stake in shares of Atlassian by 100.0% in the fourth 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 period. Smithfield Trust Co boosted its stake in shares of Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after buying an additional 78 shares during the period. Finally, GeoWealth Management LLC boosted its stake in shares of Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

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.