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

Posted by ABMN Staff on Dec 31st, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $255.45, for a total transaction of $2,030,316.60. Following the sale, the chief executive officer now directly owns 23,844 shares of the company’s stock, valued at $6,090,949.80. This represents a 25.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $246.97, for a total value of $1,962,917.56.
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 value 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 transaction 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 transaction of $2,211,133.60.
On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 transaction 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 shares were sold at an average price of $239.19, for a total value of $1,901,082.12.
On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total value of $1,782,974.84.

Atlassian Price Performance

Shares of TEAM opened at $247.10 on Tuesday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The firm’s 50-day simple moving average is $244.96 and its two-hundred day simple moving average is $194.39. The stock has a market cap of $64.35 billion, a PE ratio of -162.56 and a beta of 0.80. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.07) EPS. Analysts anticipate that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. KeyCorp increased their price objective on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Raymond James raised their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Piper Sandler upped their price objective on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Truist Financial raised their target price on Atlassian from $200.00 to $250.00 and gave the stock a “hold” rating in a research note on Thursday, December 12th. Finally, Wells Fargo & Company upped their price target on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Ten research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $258.00.

View Our Latest Stock Analysis on Atlassian

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently modified their holdings of the stock. Asset Dedication LLC boosted its holdings in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of Atlassian in the 2nd quarter worth approximately $36,000. True Wealth Design LLC raised its position in Atlassian by 23,100.0% during the 3rd 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 in the last quarter. GAMMA Investing LLC grew its stake in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the last quarter. Finally, Reston Wealth Management LLC purchased a new position in Atlassian during the third quarter worth approximately $48,000. 94.45% of the stock is currently owned by institutional investors.

About Atlassian

(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.