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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $205.94, for a total transaction of $1,636,811.12. Following the completion of the sale, the chief executive officer now directly owns 278,180 shares of the company’s stock, valued at $57,288,389.20. This trade represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, April 11th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $195.91, for a total transaction of $1,557,092.68.
• On Wednesday, April 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $195.56, for a total transaction of $1,554,310.88.
• On Friday, April 4th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.28, for a total value of $1,496,449.44.
• On Wednesday, April 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $222.68, for a total value of $1,769,860.64.
• On Monday, March 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $209.73, for a total value of $1,666,934.04.
• 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 transaction 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 transaction of $1,808,567.40.
• On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $259.69, for a total value of $2,064,016.12.

Atlassian Stock Down 1.2 %

Shares of TEAM opened at $202.75 on Friday. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The stock has a market cap of $53.12 billion, a price-to-earnings ratio of -151.30 and a beta of 1.07. The company has a 50-day moving average price of $239.67 and a two-hundred day moving average price of $242.17. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results 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%. Equities analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of recent analyst reports. Robert W. Baird raised Atlassian from a “neutral” rating to an “outperform” rating and cut their price objective for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Citigroup lifted their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a report on Monday, March 31st. The Goldman Sachs Group lifted their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Finally, Canaccord Genuity Group upped their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $297.73.

Hedge Funds Weigh In On Atlassian

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clean Yield Group raised its stake in shares of Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after acquiring an additional 93 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian in the fourth quarter worth $27,000. Colonial Trust Co SC grew its holdings in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after purchasing an additional 69 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of Atlassian in the fourth quarter valued at about $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Atlassian during the 4th quarter worth about $39,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.