Michael Cannon-Brookes Sells 8,241 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

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Atlassian Co. (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 8,241 shares of the firm's stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $178.45, for a total value of $1,470,606.45. Following the sale, the chief executive officer now directly owns 209,871 shares of the company's stock, valued at $37,451,479.95. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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2 Earnings Dumpers Worth a Second Look

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

On Tuesday, May 14th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $184.26, for a total value of $1,518,486.66.
On Friday, May 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $179.88, for a total value of $1,482,391.08.
On Wednesday, May 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $178.93, for a total value of $1,474,562.13.
On Monday, May 6th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $182.45, for a total value of $1,503,570.45.
On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $172.99, for a total value of $1,425,610.59.
On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $178.95, for a total value of $1,474,726.95.
On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $191.53, for a total value of $1,578,398.73.
On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.26, for a total value of $1,617,378.66.
On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.46, for a total value of $1,627,267.86.
On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $201.81, for a total value of $1,663,116.21.

Atlassian Stock Down 1.8 %

TEAM traded down $3.25 on Wednesday, hitting $174.80. 1,638,072 shares of the company were exchanged, compared to its average volume of 1,702,064. Atlassian Co. has a 12 month low of $156.05 and a 12 month high of $258.69. The company has a market cap of $45.50 billion, a PE ratio of -282.62 and a beta of 0.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The stock's fifty day moving average is $191.90 and its 200-day moving average is $206.01.

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Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The business's revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.40) earnings per share. Equities research analysts predict that Atlassian Co. will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on TEAM. Mizuho dropped their price objective on Atlassian from $240.00 to $225.00 and set a "buy" rating for the company in a report on Friday, April 26th. Piper Sandler decreased their target price on Atlassian from $225.00 to $200.00 and set a "neutral" rating for the company in a research note on Friday, April 26th. Citigroup decreased their target price on Atlassian from $280.00 to $265.00 and set a "buy" rating for the company in a research note on Friday, April 12th. UBS Group decreased their target price on Atlassian from $260.00 to $250.00 and set a "neutral" rating for the company in a research note on Friday, February 2nd. Finally, The Goldman Sachs Group boosted their target price on Atlassian from $188.00 to $215.00 and gave the company a "neutral" rating in a research note on Friday, February 2nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $223.22.

Is the dip in Atlassian stock a sneaky buy opportunity?

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Institutional Trading of Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management increased its stake in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company's stock worth $29,000 after purchasing an additional 119 shares during the period. Edmond DE Rothschild Holding S.A. bought a new position in shares of Atlassian during the first quarter worth approximately $40,000. Crewe Advisors LLC bought a new position in shares of Atlassian during the first quarter worth approximately $43,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company's stock worth $88,000 after purchasing an additional 271 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Atlassian by 255.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company's stock worth $96,000 after purchasing an additional 291 shares during the period. Institutional investors own 93.03% of the company's stock.

About Atlassian

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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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