Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,666,934.04 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $209.73, for a total transaction of $1,666,934.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, March 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.63, for a total transaction of $1,721,775.24.
• On Thursday, March 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $226.93, for a total transaction of $1,803,639.64.
• On Tuesday, March 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.90, for a total value of $1,723,921.20.
• On Wednesday, March 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $227.55, for a total value of $1,808,567.40.
• On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $259.69, for a total value of $2,064,016.12.
• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $297.51, for a total value of $2,364,609.48.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $313.95, for a total transaction of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.90, for a total transaction of $2,478,981.20.
• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $315.74, for a total transaction of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88.

Atlassian Stock Performance

NASDAQ:TEAM traded up $4.20 during trading hours on Tuesday, hitting $216.41. 2,424,840 shares of the company were exchanged, compared to its average volume of 1,980,175. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The stock has a market capitalization of $56.70 billion, a price-to-earnings ratio of -161.50 and a beta of 0.91. The company’s 50 day moving average price is $268.47 and its 200-day moving average price is $239.44.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in Atlassian in the third quarter valued at approximately $606,000. Fulton Bank N.A. purchased a new stake in shares of Atlassian in the 4th quarter valued at $447,000. Paloma Partners Management Co acquired a new stake in shares of Atlassian in the third quarter worth $1,588,000. Allworth Financial LP raised its holdings in shares of Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after purchasing an additional 47 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Atlassian by 20.1% during the fourth quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company’s stock valued at $7,458,000 after purchasing an additional 5,088 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the company. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Monday. KeyCorp raised their price target on Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Mizuho upped their price objective on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Stephens initiated coverage on shares of Atlassian in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 target price on the stock. Finally, UBS Group lowered their price target on shares of Atlassian from $330.00 to $230.00 and set a “neutral” rating for the company in a research report on Tuesday. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $310.18.

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.