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

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $145.91, for a total value of $1,118,400.15. Following the completion of the transaction, the chief executive officer owned 421,575 shares in the company, valued at $61,512,008.25. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 shares were sold at an average price of $154.20, for a total transaction 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 value 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 stock was 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 value of $1,245,792.45.
• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were 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 stock was sold at an average price of $158.92, for a total value of $1,218,121.80.

Atlassian Stock Performance

Shares of TEAM traded up $0.02 during midday trading on Monday, reaching $146.44. The stock had a trading volume of 2,515,418 shares, compared to its average volume of 3,259,163. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm has a 50 day simple moving average of $156.91 and a 200-day simple moving average of $169.09. The firm has a market cap of $38.53 billion, a PE ratio of -206.25, a P/E/G ratio of 22.67 and a beta of 0.88. Atlassian Corporation PLC has a one year low of $139.70 and a one year high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the company posted $0.77 EPS. The firm’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Capco Asset Management LLC bought a new stake in Atlassian during the second quarter worth $25,000. Physician Wealth Advisors Inc. grew its stake in shares of Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after acquiring an additional 61 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in shares of Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares during the last quarter. Board of the Pension Protection Fund bought a new position in shares of Atlassian during the fourth quarter valued at about $32,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TEAM. Citigroup reiterated a “buy” rating on shares of Atlassian in a research note on Wednesday, October 22nd. Zacks Research upgraded shares of Atlassian from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. TD Cowen reduced their price objective on Atlassian from $220.00 to $205.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. Wells Fargo & Company initiated coverage on shares of Atlassian in a research note on Tuesday, September 30th. They set an “overweight” rating and a $216.00 price target for the company. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Atlassian in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $238.46.

About Atlassian

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.