Atlassian Co. (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $195.91, for a total value of $1,557,092.68. Following the completion of the sale, the chief executive officer now directly owns 302,024 shares of the company's stock, valued at approximately $59,169,521.84. This represents a 2.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Michael Cannon-Brookes also recently made the following trade(s):
- On Wednesday, April 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $205.94, for a total transaction of $1,636,811.12.
- On Wednesday, April 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $195.56, for a total value 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 stock was sold at an average price of $209.73, for a total transaction 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 value 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 value of $1,723,921.20.
- On Wednesday, March 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 transaction of $2,064,016.12.
Atlassian Stock Performance
TEAM traded down $2.56 during trading on Friday, hitting $202.75. The stock had a trading volume of 1,564,440 shares, compared to its average volume of 2,048,175. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a 50 day simple moving average of $239.67 and a 200-day simple moving average of $242.17. The firm has a market cap of $53.12 billion, a PE ratio of -151.30 and a beta of 1.07.
Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. Analysts expect that Atlassian Co. will post -0.34 EPS for the current year.
Institutional Trading of Atlassian
A number of institutional investors and hedge funds have recently modified their holdings of the company. Corebridge Financial Inc. increased its holdings in Atlassian by 0.3% in the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after buying an additional 35 shares during the period. GeoWealth Management LLC increased its stake in Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after acquiring an additional 38 shares during the period. Assetmark Inc. raised its position in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after purchasing an additional 41 shares in the last quarter. Allworth Financial LP lifted its stake in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after purchasing an additional 47 shares during the period. Finally, True Wealth Design LLC boosted its holdings in Atlassian by 21.6% during the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock valued at $69,000 after purchasing an additional 50 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
TEAM has been the topic of a number of research reports. Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and dropped their price objective for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. UBS Group lowered their price objective on shares of Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 1st. Morgan Stanley reduced their target price on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday. Stephens reiterated an "equal weight" rating and set a $255.00 price objective on shares of Atlassian in a research report on Monday, April 14th. Finally, Macquarie upgraded Atlassian from a "neutral" rating to an "outperform" rating and decreased their target price for the stock from $317.00 to $270.00 in a report on Thursday, April 10th. Six analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and an average price target of $297.73.
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About Atlassian
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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.
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