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

Posted by ABMN Staff on Jan 1st, 2025

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link.

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 shares were 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 stock was 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 shares were 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 stock was 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 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 shares were 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 stock was 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 shares were sold at an average price of $224.33, for a total value of $1,782,974.84.

Atlassian Price Performance

TEAM stock opened at $243.38 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a 50 day moving average price of $245.95 and a 200-day moving average price of $194.98. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The firm has a market capitalization of $63.38 billion, a price-to-earnings ratio of -160.12 and a beta of 0.80.

Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities research analysts forecast that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Institutional Trading of Atlassian

Institutional investors have recently bought and sold shares of the company. Asset Dedication LLC grew its holdings in shares of Atlassian by 229.8% during the second 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 purchased a new stake in Atlassian during the 2nd quarter valued at $36,000. GAMMA Investing LLC increased its holdings in shares of Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares in the last quarter. True Wealth Design LLC raised its stake in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the last quarter. Finally, Reston Wealth Management LLC bought a new position in shares of Atlassian during the third quarter valued at $48,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Oppenheimer upped their price target on shares of Atlassian from $230.00 to $270.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Truist Financial upped their price objective on shares of Atlassian from $200.00 to $250.00 and gave the company a “hold” rating in a research note on Thursday, December 12th. Wells Fargo & Company raised their target price on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. KeyCorp upped their price target on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Finally, Canaccord Genuity Group lifted their price objective on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $258.00.

Check Out Our Latest Analysis on TEAM

Atlassian Company Profile

(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.