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

Posted by Jeanne O'Marion on Oct 17th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $193.70, for a total value of $1,539,527.60. Following the completion of the transaction, the chief executive officer now directly owns 429,192 shares of the company’s stock, valued at approximately $83,134,490.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

On Friday, October 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $187.54, for a total value of $1,490,567.92.
On Wednesday, October 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $176.27, for a total value of $1,400,993.96.
On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $159.81, for a total value of $1,270,169.88.
On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.30, for a total value of $1,282,012.40.
On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.98, for a total value of $1,287,417.04.
On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $162.27, for a total value of $1,289,721.96.
On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.56, for a total value of $1,299,974.88.
On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $165.03, for a total value of $1,311,658.44.
On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.97, for a total value of $1,279,389.56.
On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $166.36, for a total value of $1,322,229.28.

Atlassian Stock Performance

Shares of TEAM stock opened at $189.35 on Thursday. The stock has a market cap of $49.24 billion, a P/E ratio of -163.23 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The company has a fifty day moving average price of $162.91 and a two-hundred day moving average price of $171.79. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM – Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the firm earned ($0.21) earnings per share. Atlassian’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, equities analysts predict that Atlassian Co. will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Several hedge funds have recently bought and sold shares of TEAM. Hollencrest Capital Management boosted its stake in shares of Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after purchasing an additional 119 shares in the last quarter. Asset Dedication LLC boosted its position in Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after buying an additional 108 shares during the period. Trust Co. of Vermont boosted its position in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares during the period. Rothschild Investment LLC acquired a new stake in Atlassian during the 2nd quarter worth approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in Atlassian during the 1st quarter worth approximately $40,000. 93.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TEAM has been the subject of several recent analyst reports. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $230.00 to $175.00 in a report on Friday, August 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Atlassian in a report on Monday, September 23rd. BMO Capital Markets cut their target price on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research note on Friday, August 2nd. Finally, Truist Financial cut their target price on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $216.29.

Read Our Latest Analysis on Atlassian

Atlassian Company Profile

(Get Free Report)

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.