Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,064,016.12 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $259.69, for a total value of $2,064,016.12. Following the sale, the chief executive officer now directly owns 135,116 shares of the company’s stock, valued at $35,088,274.04. The trade was a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $297.51, for a total value of $2,364,609.48.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $313.95, for a total value of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.90, for a total value of $2,478,981.20.
• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $315.74, for a total value of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $318.91, for a total value of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.20, for a total value 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 value of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.33, for a total value 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.

Atlassian Stock Performance

Atlassian stock opened at $238.86 on Friday. The stock’s 50 day simple moving average is $276.11 and its two-hundred day simple moving average is $232.17. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $62.58 billion, a price-to-earnings ratio of -178.25 and a beta of 0.91. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data 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%. As a group, analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

A number of hedge funds have recently made changes to their positions in TEAM. Robeco Institutional Asset Management B.V. boosted its position in shares of Atlassian by 3.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 46,211 shares of the technology company’s stock worth $7,339,000 after purchasing an additional 1,327 shares in the last quarter. National Pension Service boosted its position in shares of Atlassian by 8.4% in the 3rd quarter. National Pension Service now owns 296,066 shares of the technology company’s stock worth $47,018,000 after purchasing an additional 22,883 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Atlassian by 22.5% in the 3rd quarter. QRG Capital Management Inc. now owns 6,222 shares of the technology company’s stock worth $988,000 after purchasing an additional 1,143 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Atlassian by 61.4% in the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock worth $1,710,000 after acquiring an additional 4,099 shares during the last quarter. Finally, AIA Group Ltd purchased a new position in Atlassian in the 3rd quarter worth approximately $1,598,000. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TEAM has been the subject of several research analyst reports. KeyCorp lifted their price objective on Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Piper Sandler lifted their price objective on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Citigroup lifted their price objective on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Cantor Fitzgerald lifted their price objective on Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Finally, William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Company Profile

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.