Michael Cannon-Brookes Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $205.73, for a total transaction of $1,635,142.04. Following the transaction, the chief executive officer now owns 47,688 shares of the company's stock, valued at approximately $9,810,852.24. This represents a 14.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, May 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.81, for a total transaction of $1,675,517.88.
• On Friday, May 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $206.57, for a total transaction of $1,641,818.36.
• On Monday, May 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $214.92, for a total transaction of $1,708,184.16.
• On Friday, May 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $221.41, for a total transaction of $1,759,766.68.
• On Wednesday, May 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $225.44, for a total transaction of $1,791,797.12.
• On Monday, May 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.47, for a total transaction of $1,768,191.56.
• On Thursday, May 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $209.19, for a total transaction of $1,662,642.12.
• On Wednesday, April 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $225.64, for a total transaction of $1,793,386.72.
• On Monday, April 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $229.59, for a total transaction of $1,824,781.32.
• On Wednesday, April 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $210.23, for a total transaction of $1,670,908.04.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded up $2.38 on Friday, reaching $206.31. 3,481,076 shares of the company's stock were exchanged, compared to its average volume of 2,090,394. The company has a fifty day moving average of $210.57 and a 200-day moving average of $245.81. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a market capitalization of $54.16 billion, a price-to-earnings ratio of -153.96 and a beta of 1.06. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. On average, research analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Institutional Trading of Atlassian

Several large investors have recently made changes to their positions in the company. Strs Ohio acquired a new stake in shares of Atlassian during the 1st quarter worth approximately $21,914,000. Diker Management LLC acquired a new stake in shares of Atlassian during the 1st quarter worth approximately $849,000. Acadian Asset Management LLC boosted its position in shares of Atlassian by 68.9% during the 1st quarter. Acadian Asset Management LLC now owns 951,429 shares of the technology company's stock worth $201,875,000 after acquiring an additional 388,196 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after acquiring an additional 161 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its position in Atlassian by 12.2% in the first quarter. Belpointe Asset Management LLC now owns 4,306 shares of the technology company's stock valued at $914,000 after buying an additional 468 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets dropped 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. Stephens dropped their target price on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a report on Friday, May 2nd. Canaccord Genuity Group dropped their target price on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock 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 on the stock in a report on Monday, March 31st. Finally, Baird R W raised shares of Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $285.29.

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.