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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $322.31, for a total value of $2,561,719.88. Following the completion of the transaction, the chief executive officer now directly owns 270,232 shares in the company, valued at approximately $87,098,475.92. This represents a 2.86 % decrease in their ownership of the stock. 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 Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $318.91, for a total transaction of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.20, for a total transaction of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.01, for a total transaction of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.33, for a total transaction of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $251.20, for a total value of $1,996,537.60.
• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $236.89, for a total transaction of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The stock was sold at an average price of $243.55, for a total transaction of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $243.35, for a total value of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $254.95, for a total value of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96.

Atlassian Price Performance

Shares of TEAM opened at $318.45 on Thursday. The stock has a 50 day simple moving average of $267.99 and a 200 day simple moving average of $215.44. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.18 and a current ratio of 1.24. The firm has a market capitalization of $83.43 billion, a PE ratio of -237.65 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Sell-side analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the subject of several analyst reports. William Blair reissued an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Barclays increased their target price on Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Morgan Stanley upped their price target on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Canaccord Genuity Group raised their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $319.71.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian in the 4th quarter valued at about $27,000. Summit Securities Group LLC bought a new position in shares of Atlassian during the fourth quarter worth about $38,000. Avion Wealth raised its position in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares during the last quarter. Assetmark Inc. lifted its stake in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after acquiring an additional 41 shares in the last quarter. Finally, Mainstream Capital Management LLC acquired a new position in Atlassian during the 4th quarter worth approximately $49,000. 94.45% of the stock is 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.