Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,962,917.56 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $246.97, for a total transaction of $1,962,917.56. Following the completion of the sale, the chief executive officer now owns 7,948 shares in the company, valued at approximately $1,962,917.56. This trade represents a 50.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.45, for a total value of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.25, for a total value of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.22, for a total transaction of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.13, for a total value of $2,210,577.24.
• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.20, for a total value of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.79, for a total transaction of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.32, for a total value of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $261.73, for a total value of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $239.19, for a total transaction of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $224.33, for a total value of $1,782,974.84.

Atlassian Price Performance

Shares of TEAM traded down $3.01 during mid-day trading on Monday, reaching $247.10. 799,078 shares of the company’s stock were exchanged, compared to its average volume of 1,867,405. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The company has a market cap of $64.35 billion, a price-to-earnings ratio of -162.56 and a beta of 0.80. The company has a 50-day simple moving average of $243.87 and a two-hundred day simple moving average of $193.75. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm posted ($0.07) earnings per share. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. On average, sell-side analysts predict that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of recent analyst reports. Mizuho increased their price objective on Atlassian from $240.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Oppenheimer upped their target price on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Morgan Stanley lifted their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Wells Fargo & Company raised their price objective on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Robert W. Baird boosted their target price on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $258.00.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Asset Dedication LLC boosted its stake in shares of Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Atlassian during the second quarter worth about $36,000. GAMMA Investing LLC boosted its stake in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock valued at $37,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC grew its holdings in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after purchasing an additional 231 shares during the last quarter. Finally, Reston Wealth Management LLC acquired a new stake in shares of Atlassian during the 3rd quarter worth approximately $48,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.