Michael Cannon-Brookes Sells 7,665 Shares of Atlassian Corporation PLC (NASDAQ:TEAM) 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 company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $185.81, for a total transaction of $1,424,233.65. Following the completion of the transaction, the chief executive officer owned 291,270 shares of the company's stock, valued at $54,120,878.70. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a document filed 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 stock was sold at an average price of $185.43, for a total transaction 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 shares were 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 shares were 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 shares were 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 shares were 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 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 stock was sold at an average price of $192.06, for a total value of $1,472,139.90.

Atlassian Price Performance

Atlassian stock traded down $14.50 during mid-day trading on Thursday, hitting $171.00. 6,725,109 shares of the company traded hands, compared to its average volume of 2,045,737. The stock has a fifty day moving average price of $200.16 and a 200-day moving average price of $226.70. Atlassian Corporation PLC has a one year low of $136.84 and a one year high of $326.00. The stock has a market cap of $44.89 billion, a price-to-earnings ratio of -103.01 and a beta of 0.96. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

Analyst Ratings Changes

Several research firms recently weighed in on TEAM. Wells Fargo & Company cut their price objective on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Capital One Financial downgraded Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective for the company. in a report on Wednesday, July 16th. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Raymond James Financial reissued an "outperform" rating and set a $300.00 target price (down from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Finally, Robert W. Baird upgraded Atlassian from a "neutral" rating to an "outperform" rating and cut their target price for the stock from $320.00 to $255.00 in a report on Monday, April 14th. Five investment 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's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $274.05.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently bought and sold shares of the business. GeoWealth Management LLC boosted its holdings in Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after acquiring an additional 38 shares in the last quarter. State of Wyoming raised its position in shares of Atlassian by 20.3% in the 1st quarter. State of Wyoming now owns 278 shares of the technology company's stock worth $59,000 after purchasing an additional 47 shares during the last quarter. True Wealth Design LLC boosted its stake in Atlassian by 21.6% in the 4th quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock worth $69,000 after purchasing an additional 50 shares in the last quarter. Covenant Partners LLC boosted its stake in Atlassian by 4.2% in the 4th quarter. Covenant Partners LLC now owns 1,328 shares of the technology company's stock worth $323,000 after purchasing an additional 53 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its position in Atlassian by 4.7% during the 1st quarter. First Citizens Bank & Trust Co. now owns 1,192 shares of the technology company's stock valued at $253,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

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.

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