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

Key Points

• Michael Cannon‑Brookes sold 7,665 shares of Atlassian on Jan. 9 at an average price of $145.91 (≈$1.12M), leaving him with 421,575 shares (a 1.79% reduction); the sale was one of 11 identical transactions from mid‑December to early January totalling 84,315 shares.
• Atlassian shares trade around $146.44 with a $38.5B market cap and an average analyst rating of “Moderate Buy” (consensus target $238.46), after a quarter that beat EPS/revenue estimates but still showed a negative net margin.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $145.91, for a total value of $1,118,400.15. Following the completion of the sale, the chief executive officer directly owned 421,575 shares in the company, valued at $61,512,008.25. This represents a 1.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, January 7th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.11, for a total transaction of $1,234,908.15.
• On Monday, January 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $154.20, for a total value of $1,181,943.00.
• On Friday, January 2nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $156.15, for a total transaction of $1,196,889.75.
• On Wednesday, December 31st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.68, for a total value of $1,246,942.20.
• On Monday, December 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.66, for a total transaction of $1,254,453.90.
• On Friday, December 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.53, for a total transaction of $1,245,792.45.
• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.40, for a total value of $1,244,796.00.
• On Tuesday, December 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction of $1,236,364.50.
• On Wednesday, December 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.16, for a total value of $1,250,621.40.
• On Monday, December 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.92, for a total transaction of $1,218,121.80.

Atlassian Stock Up 0.0%

Shares of TEAM traded up $0.02 during trading on Monday, reaching $146.44. The company's stock had a trading volume of 2,515,418 shares, compared to its average volume of 3,259,163. The company has a market cap of $38.53 billion, a price-to-earnings ratio of -206.25, a P/E/G ratio of 22.67 and a beta of 0.88. The company has a fifty day moving average of $156.91 and a two-hundred day moving average of $169.09. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a twelve month low of $139.70 and a twelve month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.21. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The company's revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. On average, sell-side analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on TEAM. Citigroup restated a "buy" rating on shares of Atlassian in a research report on Wednesday, October 22nd. Wells Fargo & Company initiated coverage on Atlassian in a report on Tuesday, September 30th. They issued an "overweight" rating and a $216.00 price target on the stock. Macquarie decreased their target price on shares of Atlassian from $250.00 to $240.00 and set an "outperform" rating for the company in a report on Monday, November 3rd. Truist Financial set a $210.00 price target on Atlassian in a research report on Friday, October 31st. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $260.00 target price on shares of Atlassian in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $238.46.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. DNB Asset Management AS raised its position in shares of Atlassian by 266.6% during the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company's stock valued at $448,260,000 after buying an additional 2,041,210 shares during the last quarter. Norges Bank acquired a new stake in shares of Atlassian during the second quarter worth approximately $377,794,000. Artisan Partners Limited Partnership boosted its stake in Atlassian by 66.3% in the second quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company's stock worth $787,610,000 after purchasing an additional 1,545,546 shares in the last quarter. Vanguard Group Inc. grew its holdings in Atlassian by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company's stock worth $2,951,186,000 after acquiring an additional 1,049,483 shares during the last quarter. Finally, Voyager Global Management LP increased its holdings in shares of Atlassian by 181.8% in the third quarter. Voyager Global Management LP now owns 1,550,000 shares of the technology company's stock valued at $247,535,000 after purchasing an additional 1,000,000 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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